China Mineral Acquisition Corporation
Number of units sold: 4,000,000
Price per unit: $6.00
Terms of deal: One share of common stock and warrants to purchase two shares of common stock at $5.00 per share.
Underwriters: Broadband Capital Management LLC
Ticker symbols
Common stock: CMAQ
Warrants: CMAQW
Units: CMAQU
Common shares outstanding subsequent to IPO: 5,000,000
Shares held by public shareholders: 4,000,000
Shares held by insiders: 1,000,000
Percentage held by public shareholders: 80.0%
Gross proceeds raised: $24,000,000
Net proceeds held in escrow: $20,640,000
Escrowed proceeds per share held by public shareholders: $5.10
Date of IPO: August 30, 2004
Date of original filing: May 28, 2004
Current stock price (as of January 7, 2005)
Common stock: $4.90
Warrants: $.64
Units: $6.00
Description of business: China Mineral Acquisition Corporation is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with a company having its primary operations in the People's Republic of China. We intend initially to focus our search on target businesses in the PRC that are engaged in the minerals industry.
Biographical information for significant officer: Daniel Kunz has over 25 years of experience in international mining, construction, engineering and natural resource development. He has extensive management experience with public resource companies, including project and corporate finance, accounting, reporting, operations, and engineering. Since December 2003, Mr. Kunz has served as the Chief Executive Officer and a Director of U.S. Geothermal Inc., a company listed on the TSX Venture Exchange which is developing geothermal properties in Idaho. Since January 2004, Mr. Kunz has served as the President of Triumph Gold Corp., a company listed on the TSX Venture Exchange which explores for gold on properties it owns in Venezuela. From March 2003 to March 2004, he served as President and Director of Pacific Minerals, Ltd. (now known as Jinshan Gold Mines), a subsidiary company of Ivanhoe Mines listed on the TSX Venture Exchange, which is engaged in the exploration for copper, gold and platinum group metals in China. From November 2000 to March 2003, Mr. Kunz was President and a Director of Ivanhoe Mines, Ltd., a Toronto Stock Exchange and Nasdaq National Market listed company. From November 1997 to October 2000, Mr. Kunz served as Executive Vice President and Chief Operating Officer of Ivanhoe Mines, Ltd. From May 1990 to November 1995, Mr. Kunz served as President, Chief Executive Officer and a director of MK Gold Company, a Nasdaq OTC listed company, which owned and operated several gold mines in the western United States and provided contract-mining services to the industry. Mr. Kunz holds a B.Sc. in Engineering from the University of Montana Tech (Montana School of Mines) and an M.B.A. from Boise State University.
SEC filings: sec.gov |
