Non-brokered deal increased to 6 million units from 5 million units
By Angela McDaniels
Tacoma, Wash., Feb. 17 - Mega Uranium Ltd. arranged to sell 6 million units at C$1.10 each in a C$6.6 million non-brokered placement, according to a company news release.
The company announced the offering size as C$5.5 million on Thursday before increasing it later in the day.
Each unit will consist of one flow-through common share and half of a two-year warrant. Each whole warrant will be exercisable for one non-flow-though common share at a price of C$1.30.
The warrant exercise price is a 27.45% premium to the company's C$1.02 closing share price on Feb. 16.
The proceeds will be used to explore the company's Canadian projects.
Mega Uranium mines for uranium and is based in Toronto.
| Issuer: | Mega Uranium Ltd.
|
| Issue: | Units of one flow-through share and half a warrant
|
| Amount: | C$6.6 million
|
| Units: | 6 million
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit; each whole warrant is exercisable for one non-flow-though common share
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.30
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 17
|
| Stock symbol: | Toronto: MGA
|
| Stock price: | C$1.02 at close Feb. 16
|
| Market capitalization: | C$251.18 million
|
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