Business
Mason Graphite closes $5 million private placement financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Transoceanic Investments Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nMONTREAL, June 28, 2013 /CNW/ - Mason Graphite Inc. (\"Mason Graphite\" or the \"Company\") (TSX.V: LLG) is pleased to announce\n that it has closed its previously announced brokered private placement\n offering of flow-through units (the \"FT Units\") at a price $0.55 per FT\n Unit and hard dollar units (the \"HD Units\") at a price of $0.50 per HD\n Unit. The Company issued 8,163,637 FT Units and 1,020,000 HD Units for\n aggregate gross proceeds of C$5 million (the \"Offering\"). Each FT Unit\n consists of one flow-through common share of the Company and one-half\n of one non flow-through common share purchase warrant (a \"Warrant\").\n Each HD Unit consists of one common share of the Company and one-half\n of one Warrant. Each whole Warrant entitles the holder thereof to\n acquire one common share of the Company at a price of $0.60 for a\n period of 24 months following the closing date of the Offering.\n\n\nBenoit Gascon, CEO of Mason Graphite commented, \"With the proceeds of\n the Offering the Company is well positioned to complete its planned\n exploration program on the Lac Guéret property.\"\n\n\nIn connection with the Offering, the Company paid a syndicate of agents\n co-led by Delano Capital Corp. and PowerOne Capital Markets Limited and\n including Macquarie Capital Markets Canada Ltd., Marquest Asset\n Management Inc. and Stonecap Securities Inc. (together the \"Agents\") a\n cash fee equal to 7% of the gross proceeds from the Offering. As\n additional compensation, the Agents were issued compensation options\n (the \"Broker Options\") equal to 7% of total number of securities issued\n by the Company pursuant to the Offering. Each Broker Option consists of\n one common share of the Company (\"Broker Option Share\") and one-half of\n one common share purchase warrant (a \"Broker Warrant\"). Each Broker\n Option is exercisable at a price of $0.60 per Broker Option for a\n period of 24 months following the closing date of the Offering. Each\n Broker Warrant entitles the holder to acquire one additional common\n share of the Company at a price of $0.60 for a period of 24 months\n following the closing date of the Offering.\n\n\nThe Company intends to use the gross proceeds of the sale of the FT\n Units t...