Indicator Minerals Closes Final Tranche of Private Placement

(Marketwire - July 14, 2010) - Indicator Minerals Inc. ("Indicator" or the "Company") (TSX VENTURE:IME) announced today that it has completed the final tranche of its previously announced non-brokered private placement of flow-through and non-flow-through units. At the closing In...

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Published inMarketwire
Format Trade Publication Article
LanguageEnglish
Published Toronto Intrado Digital Media Canada Inc 14.07.2010
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Summary:(Marketwire - July 14, 2010) - Indicator Minerals Inc. ("Indicator" or the "Company") (TSX VENTURE:IME) announced today that it has completed the final tranche of its previously announced non-brokered private placement of flow-through and non-flow-through units. At the closing Indicator issued 2,037,500 non-flow-through units (the "Units") at a price of $0.12 per Unit for gross proceeds of $244,500 (the "Private Placement"). Each Unit is comprised of one non-flow-through common share and one transferable share purchase warrant of the Company (the "Warrants"). Each Warrant is exercisable to purchase one common share of the Company at a price of $0.16 per share until July 14, 2012, subject to an acceleration provision in the event the closing price of the Company's shares on the TSX Venture Exchange (the "Exchange") exceeds $0.24 for at least 10 consecutive trading days.