Proceeds, along with recent debt financing, slated for TSB No. 1 well
By Toni Weeks
San Diego, Feb. 10 - Mira Resources Corp. said it revised the terms of a non-brokered private placement of units, upsizing it to C$4 million from C$3.5 million. The 20 million units will be sold for C$0.20 each.
As previously reported, each unit comprises one common share and half of a warrant. Each full warrant will be exercisable at C$0.30 per share for one year. The strike price is a 46.34% premium over the company's C$0.205 closing share price on Jan. 6.
Management is participating in the placement.
The combined proceeds of the private placement of units and a C$2 million convertible debt financing that was completed Jan. 12 will be used for costs associated with the recently completed reentry program on the company's TSB No. 1 well and for working capital.
Mira Resources is an oil and gas company based in Vancouver, B.C.
| Issuer: | Mira Resources Corp.
|
| Issue: | Units of one common share and half of a warrant
|
| Amount: | C$4 million, upsized from C$3.5 million
|
| Units: | 20 million
|
| Price: | C$0.20
|
| Warrants: | Half a warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 9
|
| Upsized: | Feb. 10
|
| Stock symbol: | TSX Venture: MRP
|
| Stock price: | C$0.205 at close Jan. 6
|
| Market capitalization: | C$26.58 million
|
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