MacDonald Mines Closes Private Placement with HudBay Minerals and MineralFields

MacDonald Mines Exploration Ltd. (TSXV:BMK) reports it has closed a brokered and non-brokered, private placement financing with two investors.

The press release is quoted as saying,

HudBay Minerals Inc. (TSX:HBM,NYSE:HBM)  invested $1,755,000 on a non-flow through basis at $0.13 per share for a total of 13,500,000 common shares. As a result of the investment HudBay currently owns 15.4% of the issued and outstanding shares of MacDonald Mines’ on a non-diluted basis and 19.1% on a partially diluted basis.

For the complete press release, click here.