Deal brings in C$2.77 million, shy of C$3 million target size
By Susanna Moon
Chicago, Feb. 23 – Eco Oro Minerals Corp. said it closed the third and final tranche of a C$2,770,450 non-brokered private placement of stock, raising C$300,300. The deal priced Jan. 26 and targeted proceeds of C$3 million.
The company raised brought in C$1.98 million in the initial tranche settled Feb. 6 and C$488,900 in the second tranche on Feb. 12.
The company sold 3,597,987 shares at C$0.77 per share, which is a 10.47% discount to C$0.86, the Jan. 26 closing share price.
The company had planned to sell 3,896,104 shares.
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$2,770,450
|
| Shares: | 3,597,987
|
| Price: | C$0.77
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 26
|
| Settlement dates: | Feb. 6 (for C$1,981,250), Feb. 12 (for C$488,900), Feb. 23 (for C$300,300)
|
| Stock symbol: | Toronto: EOM
|
| Stock price: | C$0.86 at close Jan. 26
|
| Market capitalization: | C$75.81 million
|
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