Murgor 4.03-million-FT-share private placement

2008-12-23 16:38 ET - Private Placement

The TSX Venture Exchange has accepted for filing the documentation with respect to a brokered private placement announced on Nov. 14, 2008.

Number of shares: 4,038,000 flow-through common shares

Purchase price: 10 cents per flow-through common share

Warrants: 2,019,000 share purchase warrants to purchase 2,019,000 common shares

Warrant exercise price: 25 cents for the 12 months following the closing of the private placement and 40 cents for the subsequent 12 months

Hidden placees: One

Insider participation: MineralFields 2008-V Super Flow Through LP, 838,000; MineralFields 2008-VI Super Flow Through LP, 1.5 million; MineralFields 2008-VII Super Flow Through LP, 500,000

Agents: Limited Market Dealer Inc. (LMD) and Toll Cross Securities Inc. (TCS)

Agents' fees: LMD will receive $11,352, representing 4 per cent of the proceeds of the private placement raised through LMD, and 113,520 units (representing 4 per cent of the units subscribed through LMD). Each unit consists of one of common share and one-half of one warrant. LMD will also receive 227,040 options (representing 8 per cent of the units subscribed through LMD), each entitling the holder to acquire a unit at a price of 10 cents for a 24-month period following the closing of the private placement. TCS will receive $7,200, representing 6 per cent of the gross proceeds of the shares subscribed through TCS.

The company has confirmed the closing of the above-mentioned private placement by way of press release issued on Nov. 14, 2008, and Dec. 5, 2008.