Company to sell between 5 million and 20 million units at C$0.10 each
By Devika Patel
Knoxville, Tenn., July 16 – Mazorro Resources Inc. said it will raise between C$500,000 and C$2 million in a private placement of units. Jones, Gable & Co. Ltd. is the agent.
The company will sell between 5 million and 20 million units of one common share and one warrant at C$0.10 per unit.
The warrants will be exercisable at C$0.15 for two years. The strike price is a 34.62% premium to the July 15 closing share price of C$0.09.
Proceeds will be used for general working capital purposes.
The gold, copper and silver explorer is based in Ottawa.
| Issuer: | Mazorro Resources Inc.
|
| Issue: | Units of one common share and one warrant
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| Amount: | C$500,000 (minimum), C$2 million (maximum)
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
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| Agent: | Jones, Gable & Co. Ltd.
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| Pricing date: | July 16
|
| Stock symbol: | CNSX: MZO
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| Stock price: | C$0.09 at close July 15
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