Deal sells at A$0.115 per CDI in Australia, C$0.12 per share in Canada
By Devika Patel
Knoxville, Tenn., Nov. 28 - Mindoro Resources Ltd. said it will raise C$1.2 million in the first tranche of a C$4 million private placement of Chess Depositary Interests and common stock on Nov. 30. The deal priced Nov. 21.
The company is selling CDIs at A$0.115 apiece in Australia and shares at C$0.12 each in Canada. It will sell a maximum of 33.4 million securities.
The price per CDI is a 23.33% discount to the company's Nov. 18 closing price in Australia, A$0.15. The price per common share is a 20% discount to its Nov. 18 closing price on the TSX Venture exchange, C$0.15.
DJ Carmichael Pty. Ltd. in Perth, Australia, and Fox-Davies Capital Ltd. in London are the co-lead managers.
Proceeds will be used to advance the Lobo and Archangel gold projects and for ongoing working capital requirements.
Based in Melbourne, Australia, Mindoro is a nickel, copper and gold exploration company.
| Issuer: | Mindoro Resources Ltd.
|
| Issue: | Chess Depositary Interests, common stock
|
| Amount: | C$4 million
|
| Price: | A$0.115 per CDI, C$0.12 per share
|
| Warrants: | No
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 30 (for C$1.2 million)
|
| Stock symbol: | TSX Venture: MIO, Australia: MDO
|
| Stock price: | C$0.15, A$0.15 at close Nov. 21
|
| Market capitalization: | C$27.49 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.
