On November 9, 2011, Mega Precious Metals Inc. (TSX VENTURE: MGP) ("Mega"), announced that it had closed its previously announced best efforts private placement offering and raised gross proceeds of $9,696,280 for continuing exploration and development activities in Ontario and Manitoba and for general corporate and working capital purposes. On November 11, 2011, Mega announced that it had closed the President's List portion of the private placement for additional gross proceeds of $240,960.
The offering was led by Octagon Capital Corporation, on behalf of a syndicate of agents including PowerOne Capital Markets Limited and Stonecap Securities Inc.
The agents were advised in this transaction by Stephen Erlichman and Susan Newell (securities) and Mitchell Thaw (tax) of Fasken Martineau.