By Laura Lutz
Des Moines, Nov. 1 - Cline Mining Corp. wrapped a private placement of units for C$1 million.
The company sold 1,923,075 units of one flow-through common share and one half-share non flow-through warrant to MineralFields Group at C$0.52 per unit. Each warrant is exercisable at C$1.15 for 18 months.
The deal priced on Oct. 17 with a unit price of C$0.56.
Proceeds of the non-brokered placement will be used for exploration.
Cline is a mine development company based in Sudbury, Ont.
| Issuer: | Cline Mining Corp.
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 1,923,075
|
| Price: | C$0.52
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.15
|
| Investor: | MineralFields Group
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 17
|
| Settlement date: | Nov. 1
|
| Stock symbol: | Toronto: CMK
|
| Stock price: | C$0.46 at close Nov. 1
|
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