Maya Gold Announces Share Deals with Praetorian Resources; Shares Down 20%

By MT Newswires,  July 12, 2012, 01:08:46 PM EDT

Maya Gold & Silver Inc. (MYA.V) today announced that it has entered into a share exchange and subscription agreement with Praetorian Resources Limited, worth a total of $3 million.

Under the terms of the subscription agreement, Praetorian has agreed to subscribe for five million units of Maya at a price of $0.25 per unit for total proceeds to Maya of $1.25 million.

Pursuant to the exchange agreement, Maya issued and exchanged seven million common shares (at $0.25 each for a deemed value of $1.75 million) for 2,185,315 ordinary shares of Praetorian.

MYA shares were down 5 cents at $0.20, close to year lows of $0.19.




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


This article appears in: Investing, Commodities

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