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Marifil Mines Ltd Announces Non Brokered Private Placement


Monday, 11 Feb 2013 09:30am EST 

Marifil Mines Ltd announced that non-brokered private placement of up to 20,000,000 units at $0.05 per unit for gross proceeds of up to $1,000,000 (the Offering). Each unit will consist of one common share and one full purchase warrant (a Unit). Each whole warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.10 for 60 months from closing of the Offering. If, commencing on that date that is four months after the closing of the Offering, the closing price of the common shares of the Company on the TSX Venture Exchange is higher than $0.20 for 20 consecutive trading days then on the date that is the 20th consecutive trading day (the Acceleration Trigger Date) the expiry date of the warrants will be accelerated to the date that is 20 business days after the Acceleration Trigger Date. Closing of the Offering is anticipated to be on or about February 25, 2013. Proceeds from the placement will be used for exploration and development activities on the Company's properties and for general working capital. The non-brokered private placement is subject to the approval of the TSX Venture Exchange. 

Company Quote

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30 Oct 2014