By Sheri Kasprzak
New York, Feb. 23 - Mont Blanc Resources Inc. said it has lowered the size of its previously announced C$1.2 million private placement to C$500,000.
The non-brokered deal now includes 1 million units of one share and one warrant. The warrants are exercisable at C$1.00 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.30 for 20 consecutive trading days.
The deal priced Feb. 8 as a C$1.2 million offering up to 1.7 million units at C$0.60 each. The units included one share and one warrant. Each warrant had been exercisable at C$1.00 each for two years.
Bolder Investment Partners Inc. had been the placement agent for that deal.
Proceeds will be used for a proposed joint venture and farm-in agreement with an Alberta-based private oil and gas company.
Based in Vancouver, B.C., Mont Blanc is an oil and natural gas exploration and development company.
| Issuer: | Mont Blanc Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$500,000
|
| Units: | 1 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 8
|
| Downsized: | Feb. 23
|
| Stock symbol: | TSX Venture: MTN
|
| Stock price: | C$0.68 at close Feb. 8
|
| Stock price: | C$0.60 at close Feb. 22
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
