By Laura Lutz
Des Moines, Nov. 15 - Ressources Metco Inc. announced a private placement for C$2 million.
The company plans to issue 2,000 A units to accredited investors at C$1,000 apiece.
Each A unit consists of 6,000 flow-through shares, 2,000 non flow-through shares and 4,000 warrants. Each warrant is exercisable for one non flow-through share at C$0.17 for two years.
Desjardins Securities will act as lead agent, and Laurentian Bank Securities will act as co-agent in the deal.
Proceeds will be used for exploration on Metco's properties in Quebec and for working capital.
Metco is a mining company based in Montreal.
| Issuer: | Ressources Metco Inc.
|
| Issue: | Units of 6,000 flow-through shares, 2,000 non flow-through shares and 4,000 warrants
|
| Amount: | C$2 million
|
| Units: | 2,000
|
| Price: | C$1,000
|
| Warrants: | 4,000 per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.17
|
| Agents: | Desjardins Securities (lead), Laurentian Bank Securities
|
| Pricing date: | Nov. 15
|
| Stock symbol: | TSX Venture: MKO
|
| Stock price: | C$0.11
|
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