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Mundoro to seek to raise $1 mln to finance Bulgarian, Serbian projects

Author Mario Tanev
Mundoro to seek to raise $1 mln to finance Bulgarian, Serbian projects Author: James St. John Licence: Creative Commons

SOFIA (Bulgaria), December 5 (SeeNews) - Canadian mineral exploration and development company Mundoro Capital said that it intends to carry out a private placement to raise gross proceeds of up to $1 million (901,000 euro), part of which will be invested in the exploration of its non-partnered properties in Serbia and Bulgaria.

Mundoro Capital will offer 7,407,407 units at a price of $0.135 per unit, the company said in a statement.

Each unit comprises of one common share of the company and one-half of one share purchase warrant. Each whole share purchase warrant is exercisable into one common share at a price of $0.20 per share for a period of 2 years following the closing of the offering.

A four-month hold period will apply to all securities issued as part of the offering. 

The offering is expected to be closed on January 8, 2020.

($ = 0.9015 euro)

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