By Sheri Kasprzak
New York, Jan. 26 - Mediterranean Resources Ltd. settled a private placement for C$3,059,250.
The company sold 10,197,500 units at C$0.30 each.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$0.38 for two years.
Loeb Aron & Co. Ltd. was the lead agent in a syndicate that included Hythe Securities Ltd., Evergreen Capital Partners Inc. and Union Securities Ltd.
Proceeds will be used for mineral exploration on the company's Tac and Corak gold properties in Turkey and for working capital.
Vancouver, B.C.-based Mediterranean is a gold exploration company.
| Issuer: | Mediterranean Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3,059,250
|
| Units: | 10,197,500
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.38
|
| Placement agents: | Loeb, Aron & Co. Ltd. (lead), Hythe Securities Ltd., Evergreen Capital Partners Inc., Union Securities Ltd.
|
| Settlement date: | Jan. 26
|
| Stock symbol: | TSX Venture: MNR
|
| Stock price: | C$0.45 at close Jan. 26
|
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