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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LED Medical Diagnostics Inc | TSXV:LMD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.40 | 0.355 | 0.40 | 0 | 01:00:00 |
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Mag Copper Limited (the "Company") (CNSX:QUE) is pleased to announce a non-brokered private placement with the MineralFields Group for gross proceeds of $1,000,000 through the issuance of 5,882,353 flow-through units (the "Flow-Through Units") of the Company at a price of $0.17 per Flow-Through Unit. Each Flow-Through Unit consists of one common share of the capital stock of the Company (the "Common Share"), issued on a "flow-through share" basis, and one-half (1/2) of a common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one (1) Common Share for a period of twenty-four (24) months from the date of issuance at an exercise price of $0.23 per Common Share for the initial twelve (12) months and at an exercise price of $0.28 per Common Share for the following twelve (12) months. In connection with the issuance of the Flow-Through Units, the Company has agreed to pay Limited Market Dealer Inc. ("LMD") a cash commission equal to ten (10%) of the aggregate proceeds of the offering and warrants (the "Compensation Warrants") equal to ten (10%) of the number of Flow-Through Units issued and sold under the offering attributable to LMD. Each Compensation Warrant will entitle the holder thereof to purchase one Common Share of the Company at an exercise price of $0.17 per Common Share for a period of eighteen (18) months from the date of issuance. The securities to be issued are subject to a four month hold period. The Company will use the proceeds of the offering for exploration and development work. "We are very pleased to be entering into this relationship with MineralFields Group" said Mani Verma, Chief Executive Officer. "This is an important milestone in the growth of the Company and we look forward to working with MineralFields Group as we develop our projects." About MineralFields Group MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. The sector focus is on gold and precious metals, base metals, rare earths and lithium, potash, uranium, oil, coal and gas. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R), and have raised over $1 billion in their 10 year history. Shares Outstanding: 43,664,433
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