Mr. Ian Peres reports
MONETA AMENDS BOUGHT DEAL FINANCING
Moneta Porcupine Mines Inc. has amended the terms of the previously announced
bought-deal financing (see press release dated Feb. 23, 2012).
Moneta has agreed to amend the Feb. 23, 2012, agreement with the
syndicate of underwriters, led by Stonecap
Securities Inc., whereby the underwriters have now agreed to purchase,
on a bought-deal basis, 10 million common shares
from treasury of the company at a purchase price of
30 cents per common share for gross proceeds of $3-million, previously 35 cents per common share for gross proceeds of
$5-million. The company also grants the underwriters an option to
purchase up to an additional 1,667,000 common shares at the issue price,
exercisable up to 48 hours prior to closing of the offering, for
additional gross proceeds of up to $500,100.
The net proceeds of the offering will be used for exploration at the
company's Golden Highway project, working capital and general corporate
The offering will be made by way of private placement to accredited
investors in all provinces of Canada. The offering is expected to close
on or about March 27, 2012, and is subject to certain conditions,
including, but not limited to, the receipt of all necessary approvals,
including the approval of the Toronto Stock Exchange and the relevant
securities regulatory authorities. The common shares will be subject to
a four-month hold period.
We seek Safe Harbor.