Deal sells 3,896,104 shares at C$0.77 to fund working capital purposes
By Devika Patel
Knoxville, Tenn., Feb. 6 – Eco Oro Minerals Corp. said it raised C$1.98 million in the initial tranche of a C$3 million non-brokered private placement of stock. The deal priced Jan. 27.
The company is selling 3,896,104 common shares at C$0.77 per share. The price per share is a 10.47% discount to C$0.86, the Jan. 26 closing share price. Eco Oro sold 2,573,052 shares in the first tranche.
Proceeds will be used for general working capital purposes.
The precious metals exploration and mining company is based in Vancouver, B.C.
| Issuer: | Eco Oro Minerals Corp.
|
| Issue: | Common shares
|
| Amount: | C$3 million
|
| Shares: | 3,896,104
|
| Price: | C$0.77
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 6 (for C$1,981,250)
|
| Stock symbol: | Toronto: EOM
|
| Stock price: | C$0.86 at close Jan. 26
|
| Market capitalization: | C$75.81 million
|
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