By Devika Patel
Knoxville, Tenn., April 22 - MBMI Resources Inc. said it has settled a C$1.31 million non-brokered private placement of units. The deal priced for C$2 million on April 12.
The company sold 6.57 million units of one common share and one warrant at C$0.20 per unit. The warrants are each exercisable at C$0.30 for three years.
Proceeds will be used for exploration and development of MBMI's Philippine nickel mineral properties and for general corporate purposes.
MBMI Resources is a Vancouver, B.C.-based mining company focused on the exploration and development of nickel mineral properties.
| Issuer: | MBMI Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,314,000
|
| Units: | 6.57 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | April 12
|
| Settlement date: | April 22
|
| Stock symbol: | TSX Venture: MBR
|
| Stock price: | C$0.26 at close April 12
|
| Market capitalization: | C$24.9 million
|
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