Deal with 15% greenshoe will fund exploration; Dundee to be the agent
By Devika Patel
Knoxville, Tenn., May 27 - Murgor Resources Inc. said it has arranged a C$4 million private placement of stock and units. The deal will be conducted by Dundee Securities Corp. and has a 15% greenshoe.
The company will sell 16.13 million flow-through shares at C$0.155 each and 10,715,000 units of one common share and a half-share warrant at C$0.14 per unit on a best-efforts basis.
Each warrant is exercisable at C$0.25 for two years. The strike price reflects a 72.41% premium to the May 26 closing share price of C$0.145. The price per share is a 6.9% premium to that price.
Settlement of the first tranche is expected June 14.
Proceeds will be used for exploration.
Murgor is a mineral exploration company with a focus on zinc, copper and gold exploration. The company is based in Montreal.
| Issuer: | Murgor Resources Inc.
|
| Issue: | Flow-through shares, units of one common share and a half-share warrant
|
| Amount: | C$4,000,250
|
| Greenshoe: | 15%
|
| Agent: | Dundee Securities Corp.
|
| Pricing date: | May 27
|
| Settlement date: | June 14
|
| Stock symbol: | TSX Venture: MGR
|
| Stock price: | C$0.145 at close May 26
|
| Market capitalization: | C$11.61 million
|
|
|
| Shares
|
| Amount: | C$2,500,150
|
| Shares: | 16.13 million
|
| Price: | C$0.155
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$1,500,100
|
| Units: | 10,715,000
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
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