Name - Murgor Resources
Website - http://www.murgor.com
Symbol - MGR.RT
Cusip Number - 62660P 12 1
Expiry Date - March 3, 2008,
Murgor Resources rights offering
2008-01-30 14:47 MT - Rights Offering
The company has announced it will offer to shareholders of record at Feb. 8, 2008, rights to purchase units of the company. One right will be issued for each share held. Eight rights and 60 cents are required to purchase one unit, each unit consisting of one common share and one common share purchase warrant. One common share purchase warrant and $1 entitle the buyer to purchase one share of the company for a period of one year. In the event that the closing of the common shares of the company is $1.20 or more for a period of 20 consecutive trading days, the company will be entitled to accelerate the expiry date of the common share purchase warrant to a date that is at least 30 days after the date of the notice to that effect from the company to the holders of warrants. The common share purchase warrants will not be listed on the TSX Venture Exchange. The rights offering will expire on March 3, 2008. As at Jan. 25, 2008, the company had 22,697,225 shares issued and outstanding.
Effective at the opening on Feb. 6, 2008, the shares of the company will trade ex rights and the rights will commence trading at that time on a when-issued basis. The company is classified as a mining exploration/development issuer.
Basis of offering: One right will be issued for each share held. Eight rights are exercisable for one unit at 60 cents per unit.
Record date: Feb. 8, 2008
Shares trade ex rights: Feb. 6, 2008
Rights called for trading: Feb. 6, 2008
Rights trade for cash: Feb. 27, 2008
Rights cease trading: March 3, 2008, at 12 p.m. EST
Rights expire: March 3, 2008, at 5 p.m. EST
Rights trading symbol: MGR.RT
Rights Cusip No: 62660P 12 1
Subscription agent and trustee: Computershare Investor Services Inc.
Authorized jurisdictions: British Columbia, Alberta, Manitoba, Ontario, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island, and Quebec
For further details, please refer to the company's rights offering circular dated Jan. 28, 2008. It is expected that the rights offering circular will be mailed to the shareholders on Feb. 11, 2008.
The company's rights offering circular has been filed with and accepted by the British Columbia, Alberta, Manitoba, Ontario, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland and Labrador, and Prince Edward Island securities commissions, and the Autorite des marches financiers, pursuant to the provisions of the British Columbia, Alberta, Manitoba, Ontario, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island, and Quebec securities acts.
Rights give existing shareholders a chance to proportionately buy shares in the new issue the company is putting out to raise more funds. The certificate showing this privilege is called a right. It gives the stockholders the first opportunity, to buy the new securities.
An offer made by a company to its shareholders to enable them to buy new shares in the company at a discount to the market price.