PRIZE MINING CORPORATION (TSX-V:PRZ) (OTCQB: PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce that it has closed a non-brokered private placement of an aggregate of 2,300,000 flow-through units at a price of $0.50 per Unit, for aggregate gross proceeds of $1,150,000. Each Unit was comprised of one common share of the Company and one half of one common share purchase warrant. Each whole warrant will be exercisable into one common share at a price of $0.65 per warrant for a period of 24 months from the closing date of the Offering.
The aggregate gross proceeds of the Offering will be used by the Company to continue its drilling program on both the Daylight and Toughnut Properties in 2018.
The Company paid fees totaling $92,000 in cash.
All securities issued pursuant to this Offering are subject to a restricted period of four months and a day, ending on April 14, 2018 under applicable Canadian securities legislation.
The Company now has 59,416,868 Common Shares issued and outstanding.
Completion of the Offering is subject to the final acceptance of the TSX Venture Exchange.
About Prize Mining Corp.
Prize is a Calgary-based junior mining issuer with offices in Calgary, Alta., and is listed on the TSX Venture Exchange. Prize is engaged in the acquisition, exploration and development of mining properties.
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