Proceeds of non-brokered offering slated to advance work in Colombia
By Devika Patel
Knoxville, Tenn., Nov. 15 - Miranda Gold Corp. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 12 million units of one common share and a warrant at C$0.25 per unit.
Each five-year warrant will be exercisable C$0.375 in the first two years and at C$0.50 in the following three years. The strike prices reflect 29.31% and 72.41% premiums to the Nov. 14 closing share price of C$0.29.
Proceeds will be used to advance work in Colombia, as well as for continued exploration on the company's projects in the United States and general corporate purposes.
Based in Vancouver, B.C., Miranda is a gold exploration company.
| Issuer: | Miranda Gold Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$3 million
|
| Units: | 12 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.375 in the first two years, C$0.50 in the following three years
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 15
|
| Stock symbol: | TSX Venture: MAD
|
| Stock price: | C$0.29 at close Nov. 14
|
| Market capitalization: | C$14.01 million
|
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