By Sheri Kasprzak
New York, Jan. 24 - AfriOre Ltd. said it has priced a C$20,057,500 private placement of stock.
The offering includes 5.65 million shares at C$3.55 each.
Westwind Partners Inc. and Canaccord Capital Corp. are the underwriters and have a greenshoe for up to 570,000 additional shares.
The deal is slated to close Feb. 9.
Proceeds will be used for exploration on the company's mineral projects and for general corporate purposes.
Based in Road Town, Tortola, British Virgin Islands, AfriOre is a gold and platinum exploration company.
| Issuer: | AfriOre Ltd.
|
| Issue: | Stock
|
| Amount: | C$20,057,500
|
| Shares: | 5.65 million
|
| Greenshoe: | For 570,000 shares
|
| Price: | C$3.55
|
| Warrants: | No
|
| Underwriters: | Westwind Partners Inc. and Canaccord Capital Corp.
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 9
|
| Stock symbol: | Toronto: AFO
|
| Stock price: | C$3.68 at close Jan. 23
|
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