By Devika Patel
Knoxville, Tenn., March 25 - Newmac Resources Inc. said it has completed a private placement of units, taking in C$2.4 million. The deal priced on March 4.
Newmac sold 3 million units of one common share and one half-share warrant at C$0.80 apiece. Each whole warrant will be exercisable at C$1.00 until March 18, 2009.
Molybdenum Participation Corp. was the investor.
Vancouver, B.C.-based Newmac is a mineral exploration company.
| Issuer: | Newmac Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.4 million
|
| Units: | 3 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 18, 2009
|
| Warrant strike price: | C$1.00
|
| Investor: | Molybdenum Participation Corp.
|
| Pricing date: | March 4
|
| Settlement date: | March 25
|
| Stock symbol: | TSX Venture: NER
|
| Stock price: | C$0.76 at close March 4
|
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