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| Home : Mineral Mountain Announces C$1 Million Non-Brokered Private Placement |
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Mar 14
2017 |
Mineral Mountain Announces C$1 Million Non-Brokered Private Placement |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 13, 2017) - Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSX VENTURE:MMV)(OTC PINK:MNRLF) is pleased to announce that it is arranging a non-brokered private placement (the "Private Placement") of up to 3,636,363 units of the Company ("Units") to be sold at a price of C$0.275 per Unit to raise gross proceeds of up to C$1,000,000. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one common share of the Company (a "Warrant Share") for a period of two (2) years from closing at an exercise price of C$0.40 per Warrant Share in the first year and C$0.55 per Warrant Share in the second year, subject to the following accelerated expiry provision: in the event that the Company's common shares trade for a period of at least 20 consecutive trading days at a closing price equal to or in excess of C$0.60 per share at any time after four months following closing of the Private Placement up to the end of the first year term of the Warrants, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company. |
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| Source:http://www.marketwired.com/mw/release.do?id=2202517&sourceType=3 |
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