By Devika Patel
Knoxville, Tenn., July 30 - MPH Ventures Corp. said it has settled a non-brokered private placement of units for C$474,000. The deal priced for C$1 million on June 16.
MPH sold 2.37 million units of one common share and one non-transferable warrant at C$0.20 per unit. The company planned to sell 5 million units.
Each warrant will be exercisable at C$0.22 for two years.
Proceeds will be used for general working capital and for MPH's drill program on its Pidgeon Molybdenum deposit project in northwestern Ontario.
Vancouver, B.C.-based MPH is a precious and base metals exploration company.
| Issuer: | MPH Ventures Corp.
|
| Issue: | Units of one common share and one non-transferable warrant
|
| Amount: | C$474,000
|
| Units: | 2.37 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.22
|
| Agent: | Non-brokered
|
| Pricing date: | June 16
|
| Settlement date: | July 30
|
| Stock symbol: | TSX Venture: MPS
|
| Stock price: | C$0.22 at close June 16
|
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