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| Home : Manitou Gold Announces Closing of Non-Brokered Private Placement |
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Jul 30
2016 |
Manitou Gold Announces Closing of Non-Brokered Private Placement |
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SUDBURY, ONTARIO--(Marketwired - July 29, 2016) - Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou Gold" or the "Company") announced today that it has closed a non-brokered private placement (the "Offering") pursuant to which it has issued an aggregate of 7,000,000 units ("Units") at a price of $0.055 per Unit to raise aggregate gross proceeds of $385,000. Each Unit consists of one common share of the Company and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional common share of Manitou Gold at $0.075 until July 29, 2018, provided that if at any time following November 29, 2016, the volume weighted average price of the common shares of the Company on the TSX Venture Exchange or other stock exchange where the majority of trading volume occurs exceeds $0.15 for more than 20 consecutive trading days, the Company may provide written notice to the holders of the Warrants and the Warrants will thereafter expire on the 30th day following the provision of such notice. Insiders of the Company subscribed for an aggregate 1,000,000 Units in the Offering. |
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| Source:http://www.marketwired.com/mw/release.do?id=2146681&sourceType=3 |
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