By Sheri Kasprzak
New York, May 23 - McVicar Resources Inc. negotiated a C$2.78 million private placement.
The non-brokered offering includes up to 2.78 million shares.
An investment group based in China has agreed to participate in the deal.
The proceeds will be used for acquisitions, exploration and working capital.
Toronto-based McVicar is a mineral exploration and chemical production company with the majority of its business focused in China.
| Issuer: | McVicar Resources Inc.
|
| Issue: | Stock
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| Amount: | C$2.78 million
|
| Shares: | 2.78 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | May 23
|
| Stock symbol: | TSX Venture: MCV
|
| Stock price: | C$1.19 at close May 22
|
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