By Devika Patel
Knoxville, Tenn., April 21 - Africo Resources Ltd. said it will raise C$100 million in a private placement of units.
The company will sell units at C$2.50 to Camrose Resources Ltd. Each unit will consist of one share and one half-share warrant, with each warrant exercisable for 18 months at C$3.50.
Vancouver, B.C.-based Africo Resources is a development stage copper-cobalt company with an operational base in the Democratic Republic of the Congo.
| Issuer: | Africo Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$100 million
|
| Price: | C$2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$3.50
|
| Investor: | Camrose Resources Ltd.
|
| Pricing date: | April 21
|
| Stock symbol: | Toronto: ARL
|
| Stock price: | C$2.50 at close on April 18
|
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