Units consist of shares, 150,000 warrants; proceeds fund acquisition
By Devika Patel
Knoxville, Tenn., Nov. 17 - Maya Gold & Silver Inc. said it amended and settled a C$2.52 million private placement of units. The deal priced for C$6.3 million on Oct. 14.
The company sold 36 units at C$70,000 per unit. The units originally were priced at C$90,000.00 apiece. Each unit consists of 300,000 common shares and 150,000 warrants. The units originally consisted of the shares and either two silver ingots of 10 kilograms each or the 150,000 warrants.
Each warrant will be exercisable at C$0.70 until Dec. 31, 2013, which was extended from April 30, 2013. The strike price reflects a 105.88% premium to the Oct. 13 closing share price of C$0.34.
The company also said it has completed a C$700,000 offering of non-convertible debentures due Dec. 31, 2013.
Proceeds will be use for initial commitments in connection with the Zgounder Silver Mine acquisition and other projects in Morocco and for general corporate working capital.
Based in Montreal, Maya Gold & Silver mines for base and precious metals.
| Issuer: | Maya Gold & Silver Inc.
|
| Issue: | Units of 300,000 common shares and 150,000 warrants
|
| Amount: | C$2.52 million
|
| Units: | 36
|
| Price: | C$70,000.00
|
| Warrants: | 150,000 warrants per unit
|
| Warrant expiration: | Dec. 31, 2013
|
| Warrant strike price: | C$0.70
|
| Pricing date: | Oct. 14
|
| Amended: | Nov. 17
|
| Settlement date: | Nov. 17
|
| Stock symbol: | TSX Venture: MYA
|
| Stock price: | C$0.34 at close Oct. 13
|
| Market capitalization: | C$13.93 million
|
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