By Sheri Kasprzak
Atlanta, Nov. 9 - Globemin Resources Inc. said Tuesday it has amended terms on a previously announced C$1 million private placement.
The offering, initially announced Sept. 3, will consist of 3.85 million units of one share and one non-transferable share warrant at C$0.26.
The warrants, exercisable for one year, allow for the purchase of an additional share at C$0.50.
The company initially said it would offer 2 million units at C$0.50 per unit.
So far, Globemin has received C$500,000 in subscriptions for the offering.
The company is offering finders' fees at 8.5% for cash fees and 10% for fees paid in shares.
Globemin is a Vancouver, B.C.-based precious metals exploration and development company. The company plans to use the funds from the financing to complete its acquisition of the Sutter Gold Mine.
| Issuer: | Globemin Resources Inc.
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| Issue: | Units of one share and one non-transferable warrant
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| Amount: | C$1 million
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| Shares: | 3.85 million units
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| Price: | C$0.26
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.50
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| Announcement date: | Sept. 3
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| Amended: | Nov. 9
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| Stock price: | C$0.35 at close Sept. 3
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| Stock price: | C$0.21 at close Nov. 8 (last trade)
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