Non-brokered deal's proceeds help explore Northcore, Nyimba projects
By Devika Patel
Knoxville, Tenn., Oct. 14 - Mukuba Resources Ltd. said it completed a second C$1.24 million tranche of a C$3 million non-brokered private placement of stock. The deal priced Sept. 7, and the company raised C$746,200 on Sept. 27.
The company is selling 20 million common shares at C$0.15 apiece, a 6.25% discount to the Sept. 6 closing share price of C$0.16. It sold 4,974,666 shares in the first tranche and 8,254,253 shares in the second.
Proceeds will be used for exploration of the company's Northcore and Nyimba projects in Zambia and to begin to explore and develop a copper and base metals project in the Democratic Republic of the Congo.
Mukuba is a base metals exploration company based in Toronto.
| Issuer: | Mukuba Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$3 million
|
| Shares: | 20 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 7
|
| Settlement dates: | Sept. 27 (for C$746,200), Oct. 14 (for C$1,238,138)
|
| Stock symbol: | TSX Venture: MKU
|
| Stock price: | C$0.16 at close Sept. 6
|
| Market capitalization: | C$9.18 million
|
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