Skip to main content
This website uses cookies. By continuing to use this website you are agreeing to our use of cookies as described in our privacy policy.
Client Work

MacDonald Mines Exploration closes flow-through private placement for US$2.9 million

Fasken
Reading Time 1 minute read Subscribe
Client

MacDonald Mines Exploration Ltd.

On August 20, 2010, MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) announced the closing of a private placement financing for total gross proceeds of $2,918,000. All shares issued were on a flow through basis. The company issued 15,357,894 units (the "Units") at a price of $0.19 per Unit. Each Unit is comprised of one "flow through" common share and one half common share purchase warrant. Each full warrant entitles the holder to purchase one common share of the company for $0.25 per share and expires 24 months from the date of closing. The company intends to use the proceeds of the offering for exploration efforts in the "Ring of Fire" area near James Bay, Ontario. Peter Villani of Fasken Martineau acted as Quebec counsel to MacDonald Mines Exploration in this transaction.

    Subscribe

    Receive email updates from our team

    Subscribe