By Sheri Kasprzak
New York, March 6 - Metalline Mining Co. said it completed an $11,156,508 private placement.
The company sold 13,945,636 units at $0.80 each to 148 accredited investors.
The units are comprised of one share and one warrant. Each warrant is exercisable at $1.25 for five years.
Proceeds will be used for the completion of a feasibility study on the Sierra Mojada project in Mexico and for working capital and general corporate purposes.
Based in Coeur d'Alene, Idaho, Metalline is a mineral exploration company.
| Issuer: | Metalline Mining Co.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $11,156,508
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| Units: | 13,945,636
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| Price: | $0.80
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| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.25
|
| Settlement date: | March 6
|
| Stock symbol: | OTCBB: MMGG
|
| Stock price: | $2.60 at close March 6
|
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