By Laura Lutz
Des Moines, Nov. 21 - Murgor Resources Inc. intends to complete a private placement of flow-through and non flow-through units for up to C$5 million.
The company plans to sell flow-through units of one flow-through share and one half-share warrant at C$0.25 per unit. Each whole warrant from flow-through units will be exercisable for one non flow-through share at C$0.35 for 18 months.
The company also plans to sell non flow-through units of one non flow-through share and one half-share warrant at C$0.20 per unit, with each warrant exercisable at C$0.30 for two years.
The deal will be managed by a syndicate of agents led by Loewen, Ondaatje, McCutcheon Ltd.
Settlement is subject to conditions including due diligence by the agents and regulatory approvals.
Proceeds will be used for exploration in the Flin Flon belt of Manitoba and Saskatchewan and for general corporate purposes.
Murgor is a mineral exploration company based in Montreal.
| Issuer: | Murgor Resources Inc.
|
| Issue: | Units of one flow-through share and one non flow-through warrant and units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$5 million
|
| Agents: | Loewen, Ondaatje, McCutcheon Ltd. (lead)
|
| Pricing date: | Nov. 21
|
| Stock symbol: | TSX Venture: MUG
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| Stock price: | C$0.225 at close Nov. 20
|
|
|
| Flow-through units
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| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.35
|
|
|
| Non flow-through units
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| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
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