Deal funds exploration and development of the company's Borosi project
By Devika Patel
Knoxville, Tenn., Sept. 28 - Calibre Mining Corp. said it raised C$1.44 million in the third and final tranche of a C$3.5 million non-brokered private placement of stock. The deal priced July 26 and the company raised C$1.34 million on Aug. 8; it raised C$720,000 on Aug. 19 and increased the offering from C$3 million.
The company sold 35 million common shares at C$0.10 per share, a 20% discount to the July 26 closing share price of C$0.125. It sold 13.4 million shares in the first closing, 7.2 million shares in the second tranche and 14.4 million shares in this tranche.
Proceeds will be used for exploration and development of the company's Borosi project in Nicaragua and for general working capital purposes.
Calibre Mining is a Vancouver, B.C.-based company that is focused on the acquisition, exploration and development of gold and copper deposits in North and Central America.
| Issuer: | Calibre Mining Corp.
|
| Issue: | Common stock
|
| Amount: | C$3.5 million
|
| Shares: | 35 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
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| Pricing date: | July 26
|
| Upsized: | Aug. 19
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| Settlement date: | Aug. 8 (for C$1.34 million), Aug. 19 (for C$720,000), Sept. 28 (for C$1.44 million)
|
| Stock symbol: | TSX Venture: CXB
|
| Stock price: | C$0.14 at close July 26
|
| Market capitalization: | C$13.73 million
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