Non-brokered offering finances exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., March 10 - Cougar Minerals Corp. said it has arranged a non-brokered private placement of units. The deal will raise C$1.1 million.
The company will sell 10 million flow-through units of one flow-through common share and one half-share warrant at C$0.06 per unit. Each whole warrant is exercisable at C$0.10 for two years.
The company also will sell 10 million non-flow-through units at C$0.05 per unit. Each non-flow-through unit consists of one non-flow-through share and one warrant, with each warrant also exercisable at C$0.10 for two years.
The strike price reflects a 122.22% premium to the March 9 closing share price of C$0.045.
Proceeds will be used for exploration and general corporate purposes.
The gold exploration company is based in Vancouver, B.C.
| Issuer: | Cougar Minerals Corp.
|
| Issue: | Units of one common share and one warrant; flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.1 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | March 10
|
| Stock symbol: | TSX Venture: COU
|
| Stock price: | C$0.045 at close March 9
|
| Market capitalization: | C$2.97 million
|
|
|
| Flow-through units
|
| Amount: | C$600,000
|
| Units: | 10 million
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non flow-through units
|
| Amount: | C$500,000
|
| Units: | 10 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
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