Industrial Alliance Securities was agent for sale of two types of unit
By Devika Patel
Knoxville, Tenn., Feb. 22 - Metanor Resources Inc. said it settled a private placement of units on Feb. 18. Industrial Alliance Securities Inc. was the agent for the C$7.1 million deal.
The company sold 13,730,442 flow-through units of one flow-through common share and one half-share one-year warrant.
The company also sold 8,091,668 hard dollar units of one common share and one half-share two-year warrant.
Each whole warrant is exercisable at C$0.40. The strike price reflects an 11.11% premium to the Feb. 17 closing share price of C$0.36.
Proceeds will be used for resource expenses and general working capital purposes.
Metanor is a mining exploration company based in Val d'Or, Quebec.
| Issuer: | Metanor Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, hard dollar units of one common share and one half-share warrant
|
| Amount: | C$7,095,850
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.40
|
| Agent: | Industrial Alliance Securities Inc.
|
| Settlement date: | Feb. 18
|
| Stock symbol: | TSX Venture: MTO
|
| Stock price: | C$0.34 at close Feb. 18
|
| Market capitalization: | C$42.19 million
|
|
|
| Flow-through units
|
| Units: | 13,730,442
|
| Warrant expiration: | One year
|
|
|
| Hard dollar units
|
| Units: | 8,091,668
|
| Warrant expiration: | Two years
|
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