Offering is being conducted by Canaccord Genuity at C$0.12 per unit
By Devika Patel
Knoxville, Tenn., Aug. 13 - Mexivada Mining Corp. said it amended the terms of a C$2 million private placement of units. The deal priced on June 4 and is being conducted by agent Canaccord Genuity Corp. on a best-efforts basis.
The company will now sell units of one common share and one half-share warrant at C$0.12 per unit, with each whole warrant exercisable at C$0.15 for two years. The strike price is a 200% premium to the June 1 closing share price of C$0.05.
Mexivada originally planned to sell 11,111,111 units at C$0.18 per unit, with each whole warrant exercisable at C$0.24 for two years.
Proceeds will be used for the closing costs of the company's planned acquisition of Buena Vista Gold Inc., exploration activities at the company's Nevada properties and general working capital.
Vancouver, B.C.-based Mexivada is a diamond, gold, silver and uranium exploration company.
| Issuer: | Mexivada Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | June 4
|
| Revised: | Aug. 13
|
| Stock symbol: | TSX Venture: MNV
|
| Stock price: | C$0.05 at close June 1
|
| Market capitalization: | C$2.78 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
