November 03, 2009
Medoro Resources Ltd. (TSXV: MRS) completed a private placement of 128,700,000 special warrants at a price of $0.80 per special warrant for aggregate gross proceeds of $102,960,000. Each special warrant entitles the holder thereof to receive one unit of Medoro on the exercise or deemed exercise of the special warrant, each unit being comprised of one common share of Medoro and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder thereof to purchase one common share of Medoro Resources at a price of $1.25 for a period of two years.
Medoro is a gold exploration and development company focused on acquiring gold properties of merit to bring to production, with a primary emphasis on Colombia. Medoro owns the rights to the Zona Alta of the Marmato Mountain, located in Colombia, and holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela and interests in other gold exploration areas outside of South America.
The offering was conducted through a syndicate of agents led by GMP Securities L.P. and included Canaccord Capital Corporation, Thomas Weisel Partners Canada Inc., Haywood Securities Inc., Salman Partners Inc. and TD Securities Inc.
Wildeboer Dellelce LLP acted for the agents in connection with the offering with a team that included Perry Dellelce, James Brown, Sanjeev Patel, Alexis Vazquez and Zahar Orlov (corporate/securities) and Kevin Fritz (tax).