By Laura Lutz
Washington, Feb. 20 - Moncoa Corp. arranged a private placement of units for C$9 million.
The company plans to sell 18 million units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.65 for two years.
The agent, Haywood Securities Inc., has a greenshoe for up to C$2 million.
Proceeds will be used to complete the company's planned acquisition of a 51% interest in the Selinsing gold mine and associate infrastructure. The proceeds will also be used for exploration and working capital.
Moncoa is a Vancouver, B.C.-based mining company.
| Issuer: | Moncoa Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$9 million
|
| Greenshoe: | For C$2 million
|
| Units: | 18 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | Feb. 20
|
| Stock symbol: | TSX Venture: MON
|
| Stock price: | C$0.03 at close Feb. 20
|
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