By Sheri Kasprzak
New York, Sept. 11 - Mega Uranium Ltd. intends to raise up to C$7,125,000 in a private placement.
The offering includes up to 1.5 million flow-through units at C$4.75 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$6.00 for 18 months. The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$8.00 for more than 20 consecutive trading days.
A syndicate of agents led by Canaccord Adams Inc. has a greenshoe for up to 500,000 units.
The deal is scheduled to close Oct. 10.
Proceeds will be used for Canadian exploration expenses.
Toronto-based Mega is a uranium exploration company focused on properties in Australia, Argentina, Mongolia, Bolivia and Canada.
| Issuer: | Mega Uranium Ltd.
|
| Issue: | Flow-through units of one share and one half-share warrant
|
| Amount: | C$7,125,000
|
| Units: | 1.5 million
|
| Greenshoe: | For 500,000 additional units
|
| Price: | C$4.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$6.00
|
| Placement agent: | Canaccord Adams Inc. (lead)
|
| Pricing date: | Sept. 11
|
| Settlement date: | Oct. 10
|
| Stock symbol: | Toronto: MGA
|
| Stock price: | C$4.00 at close Sept. 11
|
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