Deal funds underground drilling at target on Torrecillas vein
By Devika Patel
Knoxville, Tenn., April 19 - Mundo Minerals Ltd. said it plans a A$1 million private placement of stock. The deal will be conducted by Cygnet Capital and is in addition to the A$3 million private placement announced in March.
In the latest offering, the company will sell 22.2 million shares at A$0.045 per share, a 10% discount to A$0.05, the closing share price on April 18.
The placement should be completed in May.
Proceeds will be used for underground drilling of the company's newly identified high-priority drill target on the Torrecillas vein.
Mundo Minerals is a gold explorer in West Perth, Australia.
| Issuer: | Mundo Minerals Ltd.
|
| Issue: | Shares
|
| Amount: | A$1 million
|
| Shares: | 22.2 million
|
| Price: | A$0.045
|
| Warrants: | No
|
| Agent: | Cygnet Capital
|
| Pricing date: | April 19
|
| Stock symbol: | Australia: MUN
|
| Stock price: | A$0.05 at close April 18
|
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