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Provider: Reuters Investment Profile
Provider: GlobalData

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Marauder Resources East Coast Inc Closes Previously Announced Brokered Private Placement

Tuesday, 12 Feb 2013 11:37am EST 

Marauder Resources East Coast Inc announced that it has successfully closed a previously announced brokered private placement financing led by M Partners Inc. of units (Units) of the Company at a price of $0.065 per Unit (the Offering). Each Unit consists of one common share (Common Share) in the capital of the Company and one-half of one Common Share purchase warrant (Warrant). Each whole Warrant entitles the holder to acquire one Common Share at an exercise price of $0.13 for a period of 24 months from the date of the closing of the Offering. At closing, the Company issued 15,385,224 Common Shares and 7,692,611 Warrants for aggregate gross proceeds of $1,000,039.56. The Common Shares and Warrants issued pursuant to the Offering are subject to a four-month hold period from the date of issuance. The net proceeds from the Offering will be used for initial development of the Company's assets in the East Coast Basin, New Zealand, and for general working capital purposes. 

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