By Laura Lutz
Des Moines, June 4 - Mexican Silver Mines Ltd. plans to complete a private placement of units for up to C$10 million.
The company intends to sell up to 10 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.30 for two years.
Settlement is expected on June 30.
Proceeds will be used for exploration and working capital.
Ascenta Finance Corp. is the company's adviser for the deal.
Mexican Silver is a silver mining company based in Calgary, Alta.
| Issuer: | Mexican Silver Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 10 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.30
|
| Adviser: | Ascenta Finance Corp.
|
| Pricing date: | June 4
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: MSM
|
| Stock price: | C$1.16 at close June 4
|
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