By Sheri Kasprzak
New York, June 13 - Afri-Can Marine Minerals Corp. intends to raise C$1,500,700 in a private placement.
The offering includes up to 11,539,000 units at C$0.13 each.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$0.18 each for two years.
Jones, Gable & Co. is the placement agent.
Proceeds will be used for diamond exploration on Block J in Namibia.
Montreal-based Afri-Can is a mineral exploration, acquisition and development company focused on properties in Namibia.
| Issuer: | Afri-Can Marine Minerals Corp.
|
| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1,500,700
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| Units: | 11,539,000
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| Price: | C$0.13
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.18
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| Placement agent: | Jones, Gable & Co.
|
| Pricing date: | June 13
|
| Stock symbol: | TSX Venture: AFA
|
| Stock price: | C$0.135 at close June 12
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