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Provider: Reuters Investment Profile
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Minsud Resources Corp Announces Closing Of Above Market Non-brokered Private Placement Financing For Gross Proceeds Of $360,000

Tuesday, 10 Sep 2013 04:23pm EDT 

Minsud Resources Corp announced the closing of its non-brokered private placement offering of units in Minsud (the Units) for gross proceeds of $360,000 (the Private Placement). In connection with the closing of the Private Placement, which was initially announced on August 14, 2013, Minsud issued 3,600,000 Units at a price of $0.10 per Unit with each Unit comprising of one common share in the capital of the Company (Common Share) and one common share purchase warrant (Warrant). Each Warrant is exercisable for one Common Share at a price of $0.35 for a period of 24 months from the closing date of the Private Placement. The proceeds of the Private Placement will be used by Minsud for financing exploration costs, option payments relating to Minsud's material properties and for general working capital purposes. Out of the 3,600,000 Units issued under the Private Placement, 1,200,000 Units were purchased by Compania de Tierras Sud Argentino S.A. (CTSA), a current insider and control person of the Company. The securities issued in connection with the closing of the Private Placement will be subject to a four month hold period expiring on January 11, 2014. 

Company Quote

-0.01 -15.38%
21 Jul 2014