By Devika Patel
Knoxville, Tenn., Nov. 23 - MetalCorp Ltd. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 6 million units of one flow-through common share and one half-share warrant at C$0.25 per unit. Each whole two-year warrant will be exercisable at C$0.35 in the first year and at C$0.45 thereafter.
Proceeds will be used for exploration.
MetalCorp is a mineral exploration company based in Toronto.
| Issuer: | MetalCorp Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35 in the first year, C$0.45 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 23
|
| Stock symbol: | TSX Venture: MTC
|
| Stock price: | C$0.18 at close Nov. 20
|
| Market capitalization: | C$9.82 million
|
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