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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)