60 million units of one share and a half-share warrant sold at C$0.025
By Devika Patel
Knoxville, Tenn., July 6 – Mkango Resources Ltd. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 60 million units of one common share and one half-share warrant at C$0.025 per unit.
Each whole warrant will be exercisable at C$0.05 for three years. The strike price is a 150% premium to the July 3 closing share price of C$0.02.
Based in Calgary, Alta., Mkango mines for rare earths and other minerals.
Issuer: | Mkango Resources Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 60 million
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Price: | C$0.025
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | C$0.05
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Agent: | Non-brokered
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Pricing date: | July 6
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Stock symbol: | TSX Venture: MKA
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Stock price: | C$0.02 at close July 3
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Market capitalization: | C$1.47 million
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