Ms. Teo Dechev reports
MUNDORO ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Mundoro Capital Inc. has closed an oversubscribed non-brokered private placement financing raising $3,086,000 through the issuance of 19,287,500 units at 16 cents per unit, subject to final Toronto Stock Exchange approval. Each unit consists of one common share and one-half of one share purchase warrant. Each whole share purchase warrant is exercisable into one common share at a price of 30 cents per share for a period of two years following the closing of the offering. In the event that the trading price of the shares on the TSX Venture Exchange reaches 40 cents per share over 15 consecutive trading days, the company may, at its option, accelerate the warrant expiry date by delivery of notice to the registered holders thereof and issuing a press release and, in such case, the warrant expiry date shall be deemed to be 5 p.m. (Vancouver time) on the 30th day following the date of issuance of the warrant acceleration press release.
All securities issued under the offering are subject to a restricted resale period under Canadian securities laws until June 12, 2021. The company has paid a 6-per-cent cash commission for a total finder's fee of $60,000. The company intends to use the net proceeds of the offering for the exploration of its non-partnered properties in Serbia and Bulgaria, its non-partnered generative programs for new areas of exploration as well as general corporate purposes.
About Mundoro Capital Inc.
Mundoro is a Canadian listed exploration company with a portfolio of projects focused on base and precious metals that generate royalties and near-term mineral revenue. To drive value for shareholders, Mundoro has generated a portfolio of mineral projects focused on copper and gold in Serbia and Bulgaria. Value generated from the company's mineral properties is through near-term revenues from various forms of payments from partners and long-term through the generated royalties. The company's common shares are listed on the TSX Venture Exchange under the symbol MUN and on the OTCQB Venture Market under the symbol MUNMF.
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