Deal offers two types of units to fund Lamaque Gold Mine, exploration
By Devika Patel
Knoxville, Tenn., Nov. 9 - Century Mining Corp. said it has priced a private placement of units. The company will raise $4 million by selling units and flow-through units.
The company will sell 3,846,154 units at $0.39 apiece for $1.5 million. Each unit consists of one common share and one half-share warrant.
The company also will sell 5,555,556 flow-through units at $0.45 apiece for $2.5 million. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole 18-month warrant will be exercisable at $0.60.
Proceeds will be used for the continuing commissioning of the company's Lamaque Gold Mine operation in Val d'Or, Québec, and exploration expenditures.
Century is a gold mining company based in Blaine, Wash.
| Issuer: | Century Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | $4 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $0.60
|
| Pricing date: | Nov. 9
|
| Stock symbol: | TSX Venture: CMM
|
| Stock price: | C$0.45 at close Nov. 8
|
| Market capitalization: | C$149.3 million
|
|
|
| Units
|
| Amount: | $1.5 million
|
| Units: | 3,846,154
|
| Price: | $0.39
|
|
|
| Flow-through units
|
| Amount: | $2.5 million
|
| Units: | 5,555,556
|
| Price: | $0.45
|
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