By Devika Patel
Knoxville, Tenn., Sept. 9 - Mega Silver Inc. said it will conduct a C$5.25 million private placement of units.
The company will sell the units at C$0.75 apiece on a best-efforts basis. Each unit consists of one flow-through share and one warrant.
The warrants are exercisable at C$1.15 for two years.
PowerOne Capital Markets Ltd. is the lead agent. There is a 15% greenshoe.
Proceeds will be used for exploration.
Based in Vancouver, B.C., Mega Silver is a silver exploration and development company.
| Issuer: | Mega Silver Inc.
|
| Issue: | Units of one flow-through share and one warrant
|
| Amount: | C$5.25 million
|
| Greenshoe: | 15%
|
| Price: | C$0.75
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$1.15
|
| Warrant expiration: | Two years
|
| Agent: | PowerOne Capital Markets Ltd. (lead)
|
| Pricing date: | Sept. 9
|
| Stock symbol: | TSX Venture: MSR
|
| Stock price: | C$0.69 at close Sept. 8
|
| Market capitalization: | C$23 million
|
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