By Devika Patel
Knoxville, Tenn., Oct. 22 - Minco Silver Corp. said it completed a C$13.9 million non-brokered private placement of units. The deal priced for C$20 million on Sept. 24.
The company sold 8,175,179 units at C$1.70 apiece. The units consist of one common share and one half-share warrant. Each whole warrant is exercisable at C$2.15 for one year.
IDG-Accel China Growth Fund II LP and IDG-Accel China Investors II LP invested C$10.2 million.
Proceeds will be used for development, reorganization and general corporate purposes.
Minco Silver is a silver exploration company based in Vancouver, B.C.
| Issuer: | Minco Silver Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$13,897,804
|
| Units: | 8,175,179
|
| Price: | C$1.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$2.15
|
| Agent: | Non-brokered
|
| Investor: | IDG-Accel China Growth Fund II LP and IDG-Accel China Investors II LP (for C$10.2 million)
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 22
|
| Stock symbol: | TSX Venture: MSV
|
| Stock price: | C$1.86 at close Sept. 23
|
| Market capitalization: | C$67.8 million
|
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