By Sheri Kasprzak
New York, Jan. 17 - McVicar Resources Inc. said it intends to raise C$2.25 million in a private placement.
The deal includes 3 million units at C$0.75 apiece.
The units consist of one share and one warrant. The warrants allow for the purchase of another share at C$1.25 each for two years.
Proceeds will be used for acquisitions, exploration and working capital.
Based in Toronto, McVicar is a mineral exploration and chemical production company.
| Issuer: | McVicar Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.25 million
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| Units: | 3 million
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| Price: | C$0.75
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.25
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| Pricing date: | Jan. 16
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| Stock symbol: | TSX Venture: MCV
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| Stock price: | C$1.05 at close Jan. 16
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