Deal conducted by agent Macquarie Private Wealth to fund exploration
By Devika Patel
Knoxville, Tenn., July 26 - MGold Resources Inc. said it will raise between C$1.5 million and C$3 million in a brokered private placement of stock. Macquarie Private Wealth Inc. is the agent.
The company will sell between 15 million and 30 million common shares at C$0.10 per share on a commercially reasonable efforts basis. The purchase price is a 9.09% discount to C$0.11, the closing price of the company's common stock on July 25.
Settlement is expected Aug. 5.
Proceeds will be used for exploration, working capital and general corporate purposes.
MGold is a Montreal-based gold and base metal exploration company.
| Issuer: | MGold Resources Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million (minimum), C$3 million (maximum)
|
| Units: | 15 million (minimum), 30 million (maximum)
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Macquarie Private Wealth Inc.
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| Pricing date: | July 26
|
| Settlement date: | Aug. 5
|
| Stock symbol: | TSX Venture: MNI
|
| Stock price: | C$0.11 at close July 25
|
| Market capitalization: | C$1.46 million
|
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