Business
Non-Brokered Private Placement over-subscribed
Feb. 23, 2011 (Canada NewsWire Group) -- VANCOUVER, Feb. 23 /CNW/ - The Company (Midasco Cap...
About this update from Spartan Metals Corp.
[{"type":"text","content":"\n\n\n\n Feb. 23, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Feb. 23 /CNW/ - The Company (Midasco Capital Corp.) - (TSXV: MGC) wishes to announce that the previously announced (January 25, 2011)\n non-brokered private placement of 10,000,000 Units at the price of\n $0.10 per Unit has been over-subscribed and as such the Company has\n agreed to increase the placement to 11,000,000 Units.  Each Unit will\n consist of one common share and one half share purchase warrant, with\n each warrant entitling the holder thereof to acquire one common share\n at an exercise price of $0.20 for a period of one year from the date of\n closing.  If after four months and one day the common shares of the\n Company close at a price in excess of $0.40 for 10 consecutive trading\n days, then the expiry date of the warrants will be accelerated to the\n date that is 30 days after notice of the new expiry date is provided to\n the holders of the warrants.\n\n\nA finder's fee in connection with this offering may be paid for any Unit\n subscriptions referred to the company. The finder's fee will consist of\n 7% cash commission and a Finder's Option equal to 7% of the number of\n Units referred.  Each Finder's Option shall be exercisable into one\n Unit at a price of $0.10 per Unit and each Unit will be under the same\n terms as this offering for a period of one year from the date of\n closing. All securities issued pursuant to this non-brokered private\n placement will be su...