By Sheri Kasprzak
New York, Nov. 16 - MetalCorp Ltd. said it wrapped its previously announced private placement for C$1,833,400.
The company issued 4,418,500 flow-through shares at C$0.40 each and 165,000 units at C$0.40 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.50 through May 16, 2007.
The offering was first announced Nov. 2 as a C$2 million deal composed of 3.75 million flow-through shares and 1.25 million units under the same terms.
Research Capital Corp. was the placement agent.
Proceeds from the offering, which is slated to close on Nov. 23, will be used for working capital and general corporate purposes. Proceeds from the flow-through shares will be used for exploration on the company's Canadian properties.
Based in Thunder Bay, Ont., MetalCorp is a mineral exploration company.
| Issuer: | MetalCorp Ltd.
|
| Issue: | Flow-through shares and units of one share and one warrant
|
| Amount: | C$1,833,400
|
| Placement agent: | Research Capital Corp.
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 16
|
| Stock price: | C$0.3653 at close Nov. 2
|
| Stock price: | C$0.365 at close Nov. 16
|
|
|
| Flow-through shares
|
| Shares: | 4,418,500
|
| Price: | C$0.40
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 165,000
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
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