Non-brokered offering finances exploration work on Quebec properties
By Devika Patel
Knoxville, Tenn., Dec. 20 - Metanor Resources Inc. said it completed a non-brokered private placement of stock. The deal raised C$2.75 million.
The company sold 5,332,568 flow-through common shares at C$0.515 per share. The price per share is a 22.62% premium to the Dec. 17 closing share price of C$0.42.
Proceeds will be used for exploration work on the company's admissible properties in Quebec.
Based in Val-d'Or, Quebec, the company explores for gold.
| Issuer: | Metanor Resources Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2,746,273
|
| Shares: | 5,332,568
|
| Price: | C$0.515
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 20
|
| Stock symbol: | TSX Venture: MTO
|
| Stock price: | C$0.42 at close Dec. 17
|
| Market capitalization: | C$54.92 million
|
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