Mercator Minerals Closes $20 Million Financing
Mercator Minerals Ltd. is pleased to announce that it has closed its previously announced private placement of 11,428,572 units to raise gross proceeds of C$20 million. Each Unit was comprised of one common share and one-quarter of one common share purchase warrant. Each Warrant entitles the holder to purchase one additional Common Share of the Company at a price of C$2.50 per share until December 2, 2014. A finders fee of C$0.54 million was paid in connection with the financing.