Metanor Closes First Tranche of Private Placement, Raises $646K; Shares Up 23%

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Metanor Resources Inc. (MTO.V) has completed a first tranche of $646,015, in the private placement offering of a maximum amount of $1,500,000. The offering consists of 6,460,150 flow through common shares priced at $0.10 each. A second closing is expected to take place the week of June 10, 2013.

The net proceeds will be used for exploration work on Metanor's Quebec properties.

Yesterday, Metanor said it was "very encouraged" by the latest drilling results at its Bachelor project.

MTO shares gained two cents to $0.105 on volume of 1.14 million.



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This article appears in: Investing , Commodities

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