By Sheri Kasprzak
New York, Jan. 25 - Medoro Resources Ltd. said it has priced a C$10 million private placement of units.
The offering includes up to 142,857,143 units at C$0.07 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.15 each for 18 months.
GMP Securities LP is the placement agent for the deal.
Proceeds will be used for potential acquisitions, general corporate purposes and working capital.
Toronto-based Medoro is a gold exploration and development company.
| Issuer: | Medoro Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$10 million
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| Units: | 142,857,143
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| Price: | C$0.07
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.15
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| Placement agent: | GMP Securities LP
|
| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: MRL
|
| Stock price: | C$0.25 at close Jan. 25
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