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Maudore Minerals Ltd Proposes Private Placement Of Up To $25 million


Monday, 25 Mar 2013 09:23pm EDT 

Maudore Minerals Ltd announced that, further to the announcement made earlier, that it intends on proceeding with a brokered private placement of units (the Units) on a best efforts basis for gross proceeds of up to $25 million (the Private Placement), at a price per Unit of $0.91, subject to market conditions and TSX Venture Exchange (the TSXV) requirements. Each Unit shall be comprised of one common share of Maudore and one-half of a common share purchase warrant. Each whole warrant shall entitle its holder to subscribe for one common share during a period of two years following the date of its issuance, at a price of $1.13, subject to market conditions and TSXV requirements. The securities issued under the Private Placement will be subject to a four-month hold period in accordance with Canadian securities laws. The net proceeds of the Private Placement shall be used to explore, develop and expand existing projects and operations, to fund corporate activities with respect to growth initiatives, and for other general and corporate purposes. The First Tranche of the Private Placement is expected to close on or about April 11, 2013. 

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22 Apr 2014