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The placement would be for up to 10mn units at Cdn$0.33/unit (US$0.26) for a total potential transaction of Cdn$3.3mn, the company said. Each unit is made up of one common share and one common share purchase warrant, it added.
The placement, which was underwritten by Canaccord Genuity, involved 27.3mn shares at Aus$0.55/share.
Vancouver's Mirasol Resources announced that it signed an option agreement with a unit of Australian miner Newcrest Mining for its Altazor gold project in Chile.
Newcrest will be able to acquire up to an 80% stake in the 22,900ha property in exchange for exploration work and US$1.8mn in cash, according to a statement. The deal will accelerate this year's exploration program, including soil sampling, alteration mapping, magnetic and electrical geophysical studies and a drilling decision, Mirasol said.
Toronto-based Monarca Minerals signed a letter of intent to acquire the San José gold-silver-lead-zinc-copper project in Chihuahua, Mexico.
Monarca will be able to acquire the 5,580ha property from a group of landowners in exchange for US$150,000 in cash payments in addition to US$390,000 in payment of property backtaxes and a 2% NSR, the company stated.
The placement, which was underwritten by a syndicate of companies led by Cormark Securities, involved 15.4mn shares at Cdn$1.95/share, the company said.