By Laura Lutz
Washington, Feb. 13 - Maxy Gold Corp. completed a private placement of units with Western Mining Co. for C$2.25 million.
Western Mining bought 1.875 units of one share and one warrant at C$1.20 per unit. Each warrant is exercisable at C$2.00 for two years.
The shares and warrants have a hold period expiring June 10, 2007.
The financing is part of a strategic alliance between the two companies to jointly develop properties in the Chinese provinces of Qinghai and Tibet.
Based in Vancouver, B.C., Maxy is a resource exploration company focused on precious and base metal properties in China.
| Issuer: | Maxy Gold Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.25 million
|
| Units: | 1.875 million
|
| Price: | C$1.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
| Investor: | Western Mining Co.
|
| Settlement date: | Feb. 13
|
| Stock symbol: | TSX Venture: MXD
|
| Stock price: | C$0.89 at close Feb. 12
|
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