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Provider: Reuters Investment Profile

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Mammoth Resources Corp Announces Second Tranche Private Placement Closing on $163,500

Thursday, 15 Aug 2013 03:33pm EDT 

Mammoth Resources Corp announced that a second tranche closing of $163,500 in additional subscriptions for total proceeds of $270,620 on its previously announced private placement financing to include up to 10,000,000 units of the Mammoth's shares (the Units) at a price of $0.05 per Unit to raise gross proceeds of up to $500,000. Each Unit will be comprised of one common share of the Company and one common share purchase warrant (a Warrant). Each Warrant will entitle the holder to acquire an additional common share of the Company for a period of 24 months from the date of issue at a price of $0.08 per common share. The Company intends to use the proceeds from the private placement for exploration expenditures on its Tenoriba property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico and for general working capital purposes. 

Company Quote

17 Apr 2015