Company sells shares through Industrial Alliance, Stonecap Securities
By Devika Patel
Knoxville, Tenn., Dec. 8 - Mineral Mountain Resources Ltd. said it priced a private placement of stock. The deal was announced Nov. 29 and will raise C$5.09 million on a best-efforts basis.
The company will sell 7.83 million flow-through common shares at C$0.65 apiece.
The price per share represents a 4.84% premium to C$0.62, the Dec. 7 closing share price.
The deal will be conducted by agents Industrial Alliance Securities Inc. and Stonecap Securities Inc.
Settlement is expected the week of Dec. 13.
Proceeds will be used for exploration of the company's mineral projects, for property investigations, for acquisitions of additional mineral properties or interests and for general working capital.
Vancouver, B.C.-based Mineral Mountain explores for precious metals, including gold and silver, and base metals, including zinc, lead and copper.
| Issuer: | Mineral Mountain Resources Ltd.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$5,089,500
|
| Shares: | 7.83 million
|
| Price: | C$0.65
|
| Warrants: | No
|
| Agents: | Industrial Alliance Securities Inc. and Stonecap Securities Inc.
|
| Announcement date: | Nov. 29
|
| Pricing date: | Dec. 8
|
| Stock symbol: | TSX Venture: MMV
|
| Stock price: | C$0.62 at close Dec. 7
|
| Market capitalization: | C$24.34 million
|
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