GMP Securities, Clarus Securities and Mirabaud Securities are agents
By Devika Patel
Knoxville, Tenn., April 15 - Maudore Minerals Ltd. said it settled a C$15.51 million tranche of a C$25 million private placement of units on April 12. The deal priced March 25.
The company is selling units of one common share and one half-share warrant at C$0.91 per unit. It sold 17,039,835 units in the first tranche.
Each whole, two-year warrant is exercisable at C$1.13, which is a 4.63% premium to the March 22 closing share price of C$1.08.
The deal is being conducted by lead agent GMP Securities LP on a best-efforts basis. The syndicate of agents also includes Clarus Securities Inc. and Mirabaud Securities LLP.
City Securities Ltd. has invested C$4.08 million, Monemvasia Pty Ltd. invested C$1.04 million, and other investors include George Fowlie, Ingrid Martin, Anne Slivitzky, Robert Pevenstein, Raynald Vezina and Keith Harris.
Proceeds will be used to explore, develop and expand existing projects and operations, for corporate activities and for other general and corporate purposes.
Maudore is a gold exploration company based in Montreal.
| Issuer: | Maudore Minerals Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$25 million
|
| Greenshoe: | 15%
|
| Price: | C$0.91
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.13
|
| Agent: | GMP Securities LP (lead), Clarus Securities Inc. and Mirabaud Securities LLP
|
| Investors: | City Securities Ltd. (for C$4,081,311), Monemvasia Pty Ltd. (for C$1,037,808), George Fowlie, Ingrid Martin, Anne Slivitzky, Robert Pevenstein, Raynald Vezina and Keith Harris
|
| Pricing date: | March 25
|
| Settlement date: | April 12 (for C$15,506,250)
|
| Stock symbol: | TSX Venture: MAO
|
| Stock price: | C$1.08 at close March 22
|
| Market capitalization: | C$27.48 million
|
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