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Messina Minerals Inc. Announces $7 Million Private Placement

Thursday, September 20th, 2007

Messina Minerals Inc. is pleased to announce a brokered private placement of up to $7 million of securities of the Company. Orion Securities Inc. will act as agent of the Company with respect to the offering. The offering will be comprised of the issuance and sale of up to $6 million of flow-through common shares of the Company at a price of $0.95 per flow-through share and up to $1 million of units of the Company at a price of $0.80 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant, expiring 24 months from closing, will entitle the holder to subscribe for one additional common share of the Company at a price of $1.10. The Company has also granted Orion an option to increase the size of the offering by up to an additional $1 million of units of the Company, exercisable until 48 hours prior to the closing of the offering.
The Company will pay a cash commission to the agent in the amount of 6.5% of the total proceeds raised. In addition, the Company will issue nontransferable compensation options to the agent equal to 6.5% of the total number of flow-through common shares and units issued, which will be exercisable into units for 24 months at a price of $0.80 per unit. These units will be on the same terms as the units sold under the offering.
Proceeds received from the private placement are intended to be used to continue exploration work on the Company’s properties in central Newfoundland and for general corporate purposes.
The offering is expected to close on or about September 28, 2007 and is subject to certain conditions and to the receipt of all required regulatory approvals and consents, including the approval of the TSX Venture Exchange. The securities of the Company issuable pursuant to the private placement will be subject to a Canadian hold period expiring four months and one day after the closing date.
The securities proposed to be offered in the private placement have not been registered under the U.S. Securities Act of 1933, as amended, or any State securities laws, and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption from the registration requirements.

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