By Sheri Kasprzak
Atlanta, April 15 - Medoro Resources Ltd. said it has raised £1.8 million in a private placement.
The company sold 30 million units at 6p each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at 10p each for two years.
Based in Toronto, Medoro is a gold exploration and development company. The proceeds from the private placement will be used to defray costs associated with due diligence on an opportunity in Europe and to fund other potential acquisitions when identified.
| Issuer: | Medoro Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | £1.8 million
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| Units: | 30 million
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| Price: | 6p
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | 10p
|
| Settlement date: | April 15
|
| Stock price: | 4.5p at close April 14
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