Non-brokered deal funds exploration and development at Zgounder mine
By Devika Patel
Knoxville, Tenn., Feb. 22 – Maya Gold & Silver Inc. said it will raise between C$2.5 million and C$3 million in a non-brokered private placement of units.
The company will sell between 20,833,333 and 25 million units of one common share and one warrant at C$0.12 per unit. Each warrant is exercisable at C$0.15 for two years. The strike price is identical to the Feb. 19 closing share price.
Settlement is expected Feb. 29.
Proceeds will be used for exploration and development works at the Zgounder silver mine and for working capital purposes.
Based in Montreal, Maya Gold & Silver mines for base and precious metals.
| Issuer: | Maya Gold & Silver Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2.5 million (minimum), C$3 million (maximum)
|
| Units: | 20,833,333 (minimum), 25 million (maximum)
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 29
|
| Stock symbol: | TSX Venture: MYA
|
| Stock price: | C$0.15 at close Feb. 19
|
| Market capitalization: | C$16.56 million
|
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