The proceeds of the private placement will be used for the continuing development of Goldex’s El Pato, La Chorrera and El Arco properties located in both Guatemala and Mexico and for general working capital.
Mercator Minerals Ltd. today announced that it has arranged a non-brokered private placement with purchasers to purchase 11,428,572 units at a purchase price of $1.75 per Unit for aggregate gross proceeds of $20 million. The sale of the Units under the Offering has been fully allocated to a limited number of accredited purchasers, and is subject to necessary regulatory approvals and the execution and delivery of customary documentation.
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