By Sheri Kasprzak
New York, May 17 - Magnus International Resources, Inc. sealed a $1.9 million private placement.
The company sold 4.75 million units at $0.40 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at $0.80 for two years.
Proceeds will be used for exploration on the company's Ugandan project portfolio.
Located in Vancouver, B.C., Magnus is a base and precious metals exploration company.
| Issuer: | Magnus International Resources, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $1.9 million
|
| Units: | 4.75 million
|
| Price: | $0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.80
|
| Settlement date: | May 17
|
| Stock symbol: | OTCBB: MGNU
|
| Stock price: | $0.51 at close May 16
|
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