McVicar Resources cancels C$15 million private placement of units

By Devika Patel

Knoxville, Tenn., Feb. 11 - McVicar Resources Inc. said in a press release it is canceling a C$15 million private placement of units that priced on Jan. 9.

The company planned to sell units of one share and one half-share warrant at C$2.30 apiece but said Monday in the release it would not proceed with the sale "due to the current unfavorable capital market conditions."

Based in Toronto, McVicar is a mineral exploration and chemical production company.

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