By Devika Patel
Knoxville, Tenn., Sept. 24 - New Millennium Capital Corp. announced the terms of its previously announced C$5 million private placement of shares.
The offering will consist of C$1 million of common shares at C$0.62 apiece, or 1,612,903 shares, and C$4 million of flow-through shares at C$0.75 apiece, which is 5,333,333 shares.
As previously reported, Raymond James Ltd. will be the agent and will receive a 6% commission and an option to purchase a number of common shares equal to 6% of the shares issued in the deal at a 15% premium to the shares' issue price.
Closing is expected to occur on or about Oct. 4.
Proceeds will be used for exploration and development of New Millennium's iron ore projects and for general working capital.
New Millennium is a mineral exploration company based in Calgary, Alta.
| Issuer: | New Millennium Capital Corp.
|
| Issue: | Common shares, flow-through shares
|
| Amount: | C$5 million (total)
|
| Warrants: | No
|
| Agent: | Raymond James Ltd.
|
| Fees: | 6%
|
| Pricing date: | Sept. 24
|
| Stock symbol: | TSX Venture: NML
|
| Stock price: | C$0.61 at close Sept. 24
|
|
|
| Common shares
|
| Amount: | C$1 million
|
| Shares: | 1,612,903
|
| Price: | C$0.62
|
|
|
| Flow-through shares
|
| Amount: | C$4 million
|
| Shares: | 5,333,333
|
| Price: | C$0.75
|
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