By Laura Lutz
Des Moines, Oct. 11 - Simberi Mining Corp. plans to complete a private placement for up to C$2 million.
The company intends to issue up to 20 million units of one share and one half-share warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.20 for two years.
Settlement is expected by Oct. 20, subject to regulatory approval.
Based in Toronto, Simberi is a resource company focused on the exploration and acquisition of developed low-cost precious and base metal projects.
| Issuer: | Simberi Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | Oct. 11
|
| Stock symbol: | TSX Venture: SAU
|
| Stock price: | C$0.12 at close on Oct. 11
|
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