To: Goose94 who wrote (6505 ) 7/31/2014 7:59:23 AM From: Goose94 Read Replies (1) | Respond to Mines Management (MGT-T) July 30, '14 is pleased to announce that it has closed the previously announced financing in which it had agreed to sell 4,000 units consisting of one share of the Company’s Series B 6% Convertible Preferred Stock, no par value, and a warrant to purchase approximately 636 shares of the Company’s common stock, par value $0.001 per share, at a price to the public of $1,000 per unit. Each share of Series B Convertible Preferred Stock is convertible into shares of common stock at a conversion rate of approximately 1,271 shares of common stock for each share of Series B Convertible Preferred Stock (equivalent to a conversion price of $0.7866 per share of common stock). The warrants are immediately exercisable at an exercise price of $1.0816 per share and will expire 52 months from the date of issuance. The offering yielded gross proceeds, before estimated offering expenses, of $4.0 million, and Mines Management intends to use the net proceeds from this offering for (i) the advancement of the permitting process for its Montanore Project and preparation for the delineation drilling program, which will include completion of the dewatering and rehabilitation of the Libby adit and (ii) general corporate purposes, including possible acquisition and exploration of new mining properties. Roth Capital Partners acted as the exclusive placement agent for the offering.
