By Devika Patel
Knoxville, Tenn., Jan. 22 - Maya Gold & Silver Inc. said it raised C$1.62 million in the first tranche of a C$2 million non-brokered private placement of units. The deal priced Dec. 22.
The company is selling 5 million units at C$0.40 apiece. It sold 4.06 million units in this tranche. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.50 until April 30, 2012.
Proceeds will be used for drilling and general corporate purposes.
Based in Montreal, Maya Gold & Silver mines for base and precious metals.
Issuer: | Maya Gold & Silver Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$2 million
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Units: | 5 million
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Price: | C$0.40
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Warrants: | One warrant per unit
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Warrant expiration: | April 30, 2012
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Warrant strike price: | C$0.50
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Agent: | Non-brokered
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Pricing date: | Dec. 22
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Settlement date: | Jan. 22 (for C$1,624,000)
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Stock symbol: | TSX Venture: MYA
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Stock price: | C$0.435 at close Dec. 21
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Market capitalization: | C$9.56 million
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