DATE: 10-15-2019
HIGH: 0.11
LOW: 0.11
VOLUME: 10000
CHANGE: -0.01

C$ 0.11


News
Minco Capital Corporation
 October 18, 2004
MINCO CLOSES FIRST TRANCHE OF FINANCING

 NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES

Minco Mining & Metals Corporation ("Minco" or the "Company") is pleased to announce that it has closed the first tranche of a brokered financing led by Paradigm Capital Inc. and Osprey Capital Partners (the "Agents") for C$2.5 million, as well as a non-brokered portion for C$1.5 million. The total offering is for an aggregate total of 3,571,428 Units of the Company at a price of C$1.40 per Unit for total proceeds of C$5 million. The first tranche of 2,850,428 units closed on October 14, 2004. It is expected that the balance of the financing will be closed on or about October 18, 2004.

Each Unit is comprised of one common share ("Common Share") of the Company plus one-half of one common share purchase warrant ("Warrant"). Each whole Warrant is exercisable by the holder at any time for a period of twenty four (24) months from the date of Closing to acquire one Common Share at a price of C$1.70. In addition, in respect of the closing of the first tranche, the Agents received brokers options to purchase a total of 177,900 common shares at a price of $1.40 for a period of 18 months.

The net proceeds from the Offering will be used for funding exploration and development activities on the Company's mineral properties in the People's Republic of China, the acquisition of further mineral properties and for general corporate purposes.

Minco Mining & Metals Corporation is listed on the Toronto Stock Exchange (TSX:MMM). The Company has gold and exploration properties in China.

This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board.
 
Show printable version of 'MINCO CLOSES FIRST TRANCHE OF FINANCING' in a New Window
Home
Corporate
Projects
News
Investors
Contact
Legal Information

Head Office Address


Suite 2060
1055 West Georgia Street
Vancouver, B.C.
Canada V6E 3R5

Head Office Contact


Tel: 604-688-8002
Fax: 604-688-8030
Toll Free: 1-888-288-8288
Email: