Units sold at C$0.10 via non-brokered deal to fund metals exploration
By Devika Patel
Knoxville, Tenn., March 31 – Minsud Resources Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.10 per unit.
Each warrant is exercisable at C$0.35 for two years. The strike price represents a 288.89% premium to the March 30 closing share price of C$0.09.
Proceeds will be used for exploration, with the copper, molybdenum, silver and gold deposit at the Chita porphyry as a main focus, payments related to option agreements and mining rights acquisitions, as well as working capital and corporate overhead requirements.
The Toronto company explores for precious and base metals.
| Issuer: | Minsud Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | March 31
|
| Stock symbol: | TSX Venture: MSR
|
| Stock price: | C$0.09 at close March 30
|
| Market capitalization: | C$7.91 million
|
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