Private Placement Oversubscribed, Closes at $265,000
July 14, 2010 @ 10:34 pm In Rare Earth Company News
[1]Medallion Resources (CVE:MDL) reports that it has closed its non-brokered unit private placement.
Each Unit consists of one common share and one transferable common-share purchase warrant (a "Warrant"). Each Warrant can be exercised to acquire one common share at an exercise price of $0.25 for a period of 36 months from closing of the Offering (12 July 2010 — the "Closing Date"). Medallion has agreed to pay cash finders' fees of $8,831.25 and grant 63,900 finders' options, to eligible finders. Each finders' option can be exercised to acquire one common share at an exercise price of $0.125 per share for a period of 24 months from the Closing Date.
Article printed from Rare Earth Investing News: http://rareearthinvestingnews.com
URL to article: http://rareearthinvestingnews.com/1187/private-placement-oversubscribed-closes-at-265000/
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[1] Image: http://rareearthinvestingnews.com/445/medallion-focused-on-rare-earth-exploration/
[2] For complete news release, click here.: http://www.medallionresources.com/s/NewsReleases.asp?ReportID=409191&_Type=News-Releases&_Title=Private-Placement-Oversubscribed-Closes-at-265000