Offering also has a C$6 million greenshoe; proceeds fund exploration
By Devika Patel
Knoxville, Tenn., Dec. 1 - Maudore Minerals Ltd. said it will conduct a C$6 million non-brokered private placement of units. The deal has a C$6 million greenshoe.
The company will sell 714,286 units of one flow-through common share and one half-share warrant at C$8.40 per unit on a best efforts basis.
Each whole warrant will be exercisable at C$8.40 for 18 months. The strike price reflects a 52.73% premium to the Nov. 30 closing share price of C$5.50.
Proceeds will be used for exploration on Maudore's Comtois gold project and the associated land area.
Maudore is a gold exploration company based in Montreal.
| Issuer: | Maudore Minerals Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$6 million
|
| Greenshoe: | C$6 million
|
| Units: | 714,286
|
| Price: | C$8.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$8.40
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 1
|
| Stock symbol: | TSX Venture: MAO
|
| Stock price: | C$5.50 at close Nov. 30
|
| Market capitalization: | C$137.23 million
|
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