New York, Oct. 18 - Miramar Mining Corp. completed a C$15 million private placement of flow-through common shares, the original C$12 million plus the C$3 million over-allotment option.
The company sold 7.5 million shares at C$2.00 per share.
Miramar paid a 5% cash commission and issued warrants for 375,000 common shares at $2.00 per common share for 12 months to the investment dealers who sold the offering.
Miramar, a Vancouver, B.C., gold miner, will use proceeds for exploration at its projects in Nunavut.
Miramar is also selling 100,000 flow-through shares in a non-brokered private placement at C$2.00 per share.
| Issuer: | Miramar Mining Corp.
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| Issue: | Flow-through common shares
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| Amount: | C$15 million
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| Shares: | 7.5 million
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| Price: | C$2.00
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| Stock price: | C$1.54 at close on Oct. 18
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