New York, Dec. 5 - Monroe Minerals Inc. said it is planning an up to C$1.01 million private placement of units in two tranches.
The company plans to sell up to 25 million units at C$0.015 per unit and up to 42 million flow-through units, also at C$0.015 per unit.
Each unit will consist of one share and one warrant exercisable at C$0.05 for the first year and C$0.10 for the second year. The flow-through units will be made up of one flow-through share and one warrant exercisable at C$0.06 for the first year and C$0.10 for the second year.
Subscribers for the flow-through units will be required to buy one hard unit for every five flow-through units.
The transaction will be non-brokered but Monroe will pay a cash finder's fee of 8% plus an option to purchase units equal to 10% of the number sold, exercisable at C$0.015 for 12 months. The units to be issued to finders will consist of one share and a warrant exercisable at C$0.06 for the first year and C$0.10 for the second year.
Directors and officers of the company may participate in the sale.
Proceeds will be used to work towards the assembly of a portfolio of uranium properties, for exploration on those properties and for general working capital purposes.
Based in Calgary, Alta., Monroe Minerals is a minerals exploration company focusing on diamonds and uranium.
| Issuer: | Monroe Minerals Inc.
|
| Issue: | Non flow-through units of one share and one warrant, flow-through units of one flow-through share and one flow-through warrant
|
| Amount: | C$1,005,000
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 5
|
| Stock symbol: | TSX Venture: MMX
|
| Stock price: | C$0.01 at last trade on Dec. 3
|
|
|
| Non flow-through units
|
| Amount: | C$375,000
|
| Units: | 25,000,000
|
| Price: | C$0.015
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.05 the first year, C$0.10 the second year
|
|
|
| Flow-through units
|
| Amount: | C$630,000
|
| Units: | 42,000,000
|
| Price: | C$0.015
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.06 the first year, C$0.10 the second year
|
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