By Sheri Kasprzak
Atlanta, Dec. 3 - Minean International Corp. said Thursday it will raise C$1.5 million through a private placement.
The company plans to issue up to 5 million units at C$0.30 each. The units include one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.35 for the first year and C$0.45 for the second.
Minean, based in Vancouver, B.C., develops alternative building technologies using recyclable steel. The company plans to use the proceeds from the deal to fund its operations in India and for working capital purposes.
| Issuer: | Minean International Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.5 million
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| Shares: | 5 million units
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| Price: | C$0.30
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.35 for the first year; C$0.45 for the second year
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| Announcement date: | Dec. 2
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| Stock price: | C$0.35 at close Dec. 2
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