Deal funds decline development, resource extension drilling programs
By Devika Patel
Knoxville, Tenn., March 13 - Mundo Minerals Ltd. said it negotiated a A$3 million private placement of stock. The deal will be conducted in two tranches of A$2.08 million and A$925,050 by lead manager Cygnet Capital.
The company will sell 66,666,667 shares at A$0.045 per share, a 10% discount to A$0.05, the closing share price on March 12. The shares will be sold in two tranches, with 46.11 million shares settling in the first tranche on March 30 and 20,556,667 shares settling in the second tranche on May 4.
Proceeds will be used to restart decline development on the Torrecillas Vein in Peru, and also for resource extension drilling programs in Peru.
Mundo Minerals is a gold explorer in West Perth, Australia.
| Issuer: | Mundo Minerals Ltd.
|
| Issue: | Shares
|
| Amount: | A$3 million
|
| Shares: | 66,666,667
|
| Price: | A$0.045
|
| Warrants: | No
|
| Manager: | Cygnet Capital (lead)
|
| Pricing date: | March 13
|
| Settlement dates: | March 30 (for A$2,074,950), May 4 (for A$925,050)
|
| Stock symbol: | Australia: MUN
|
| Stock price: | A$0.05 at close March 12
|
© 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.
