By Laura Lutz
Des Moines, March 22 - Mercator Gold plc announced a private placement of shares for up to £4,494,750.
The placement will include up to 6.915 million ordinary shares to institutional investors at 65p per share.
Cenkos Securities Ltd. and Ocean Equities Ltd. are the agents for the deal.
Following settlement, Mercator will have 60,595,144 shares outstanding.
Proceeds will be used for development of the company's Prohibition-Vivien-Consols mine and for working capital.
Mercator is a London-based gold mining company.
| Issuer: | Mercator Gold plc
|
| Issue: | Shares
|
| Amount: | £4,494,750
|
| Shares: | 6.915 million
|
| Price: | 65p
|
| Warrants: | No
|
| Agents: | Cenkos Securities Ltd., Ocean Equities Ltd.
|
| Pricing date: | March 22
|
| Stock symbol: | London: MCR
|
| Stock price: | 66.99p at close March 22
|
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