Smart money, not always the case.
Manitou Gold.
www.manitougold.com
49 million s/o
2.91 million insiders own
$4.2 million cash
Sept 18, '12
Manitou Gold (MTU-V). has completed a non-brokered private placement with Robert McEwen, pursuant to which the subscriber purchased four million flow-through units of Manitou at a price of 15 cents per unit for total gross proceeds to Manitou of $600,000. Each unit consists of one flow-through common share of Manitou and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share of Manitou (which shall not be a flow-through share) at an exercise price of 25 cents per share for a period of 24 months, provided that if, at any time after Jan. 18, 2013, the closing price of the common shares of Manitou on the TSX Venture Exchange, or such other stock exchange where the majority of voting occurs, exceeds 40 cents for more than 20 consecutive trading days, Manitou may accelerate the expiry date of the warrants, in which event the warrants will expire upon the date that is 30 days following the provision of written notice by Manitou advising holders of the accelerated expiry date.
Todd Keast, P.Geo
President and CEO |
