Published on 12/29/2006 in the Prospect News PIPE Daily.
New Issue: Metanor sells C$510,000 more units for C$2.52 million total
By Laura Lutz
Des Moines, Dec. 29 - Metanor Resources Inc. closed a C$510,000 second tranche of a private placement of units for a total deal size of C$2,516,015.
In the most recent tranche, the company sold 1.02 million units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant is exercisable at C$0.55 for two years.
The first tranche, which closed on Dec. 20, included 4,012,031 units.
Metanor is a mineral exploration company based in Quebec.
Issuer: | Metanor Resources Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$2,516,015.50
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Units: | 5,032,031
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Price: | C$0.50
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.55
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Settlement date: | Dec. 20 (for C$2,006,015.50); Dec 28 (for C$510,000)
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Stock symbol: | TSX Venture: MTO
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Stock price: | C$0.63 at close Dec. 28
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