By Sheri Kasprzak
New York, June 29 - McVicar Resources Inc. has changed the structure of its previously announced C$2.78 million private placement.
The company now plans to sell 2.78 million units of one share and one half-share warrant. Each whole warrant is exercisable at C$1.50 for two years.
The deal priced May 23 as a C$2.78 million offering of 2.78 million shares.
The proceeds will be used for acquisitions, exploration and working capital.
Toronto-based McVicar is a mineral exploration and chemical production company with the majority of its business activities focused in China.
Issuer: | McVicar Resources Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$2.78 million
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Units: | 2.78 million
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Price: | C$1.00
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$1.50
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Pricing date: | May 23
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Amended: | June 29
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Stock symbol: | TSX Venture: MCV
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Stock price: | C$1.12 at close May 23
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Stock price: | C$0.95 at close June 29
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