Marauder Resources East Coast Inc announced that it has received CAD 1.23 million in funding.
On February 12, 2013, the company closed the first tranche of the transaction. The company issued 15,385,224 units for gross proceeds of CAD 1,000,039.56. Securities issued in the transaction are subject to a hold period of four months.
On February 19, 2013, Marauder Resources East Coast Inc. closed the transaction. The company issued 3,485,000 units for CAD 226,525 in the second tranche. The company raised CAD 1,226,564 in this transaction. The transaction saw participation from 25 placees. The company paid a total cash commission of CAD 72,353.22 to the agent. The company also issued an aggregate of 1,140,387 broker warrants, each such broker warrant exercisable for one unit at an exercise price of CAD 0.065 for a period of 24 months from the date of issuance. Robert Shields, President and Chief Executive Officer, participated for 7,296,385 units pursuant to the first tranche.