Murgor Resources 7.3-million-FT-share private placement

2009-02-04 16:26 ET - Private Placement

The TSX Venture Exchange has accepted for filing the documentation with respect to a brokered private placement announced on Dec. 30, 2008.

Number of shares: 7.3 million flow-through common shares

Purchase price: 10 cents per flow-through common share

Warrants: 3.65 million share purchase warrants to purchase 3.65 million 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: Three

Insider participation:

MineralFields 2008-IX Super Flow Through LP, 500,000; MineralFields 2008-VI Super Flow Through LP, 550,000; Andre C. Tessier, 100,000

Agent: Limited Market Dealer Inc. (LMD)

Agent's fee: LMD will receive $4,200, representing 4 per cent of the proceeds of the private placement raised through LMD, and 42,000 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 84,000 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.

The company has confirmed the closing of the above-mentioned private placement.

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