By Sheri Kasprzak
Atlanta, Feb. 25 - Monster Copper Corp. said it will raise up to C$1 million in a private placement of units.
The company plans to sell up to 5 million units at C$0.20 each. The units are comprised of one share and one half-share warrant.
The whole warrants provide for an additional share at C$0.25 each for the first year and C$0.30 each for the second year.
Canaccord Capital Corp. and Pacific International Securities Inc. are the placement agents in the deal.
Based in Richmond Hill, Ont., Monster Copper is a copper exploration company. It plans to use the proceeds from the offering for exploration in Brazil as part of an agreement with Noranda Exploração Mineral Ltda. The remainder will be used for general corporate purposes.
| Issuer: | Monster Copper Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million (maximum)
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| Units: | 5 million (maximum)
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.25 for the first year; C$0.30 for the second year
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| Placement agents: | Canaccord Capital Corp. and Pacific International Securities Inc.
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| Pricing date: | Feb. 24
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| Stock price: | C$0.30 at close Feb. 24
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