Mammoth Resources Re-Prices Private Placement of 5 Mln Units

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Mammoth Resources Corp. (MTH.V) announced the re-pricing of its previously announced non-brokered private placement financing for up to 5 million units of the company at a price of $0.10 per unit to raise gross proceeds of up to $500,000.

The private placement has been re-priced to include up to 7 million units of the company at a price of $0.07 per Unit to raise gross proceeds of up to $490,000. Each unit will be comprised of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share of the company for a period of 24 months from the date of issue at a price of $0.12 per common share.

The company intends to use the proceeds from the private placement for exploration expenditures on its Tenoriba property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico and for general working capital purposes.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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