"Metanor Resources Inc. announced that it has entered an agreement with a syndicated of agents co'ded by Industrial Alliance Securities Inc. and National Bank Financials Inc. for a private placement of up to 25,000,000 Units of MTO.V at a price of $0.34 per unit for aggregate gross proceeds of up to $8,500,000."
http://ca.finance.yahoo.com/news/Metanor-announces-8-500-000-cnw-2062885299.html?x=0
The financing is expected to close on Dec.19,2011, half a month. The question is why are they financing and what are they going to do with the proceeds from this private placement. It was never specified on the news release.
Can these proceeds be used for immediate exploration or expansion of one of the two projects?
Aug.25,2011 Industrial Alliance Securites - Mining Analyst Killian Charles previous said "No barriers left to Metanor's success"
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
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