By Devika Patel
Knoxville, Tenn., June 6 - Troymet Exploration Corp. said it plans to conduct a C$1.3 million non-brokered private placement of units.
The company will sell 16.25 million units of one common share and one warrant at C$0.08 per unit. Each warrant is exercisable at C$0.20 for two years.
Proceeds will be used to carry out exploration and development on Troymet's current properties and for general working capital.
Based in Comox, B.C., Troymet is a junior mining company engaged in exploration for gold, copper and zinc.
| Issuer: | Troymet Exploration Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.3 million
|
| Units: | 16.25 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | June 6
|
| Stock symbol: | TSX Venture: TYE
|
| Stock price: | C$0.10 at close June 6
|
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