Oversubscribed offering conducted in part by agent Canaccord Genuity
By Devika Patel
Knoxville, Tenn., May 19 - Aguila American Resources Ltd. said it settled an oversubscribed C$3.38 million private placement of units. The deal priced for C$3 million on April 19 and was conducted in part by Canaccord Genuity Corp. About C$1.65 million was conducted on a non-brokered basis. Aguila also said it raised C$2 million in a short-form offering.
In the placement, the company sold 7,515,000 units of one common share and a half-share warrant at C$0.45 apiece. Of the units, 3.84 million were sold by Cannacord and the remaining 3,675,000 were sold on a non-brokered basis.
Each whole warrant is exercisable at C$0.65 until May 19, 2013. The strike price is a 30% premium to the closing share price of C$0.50 on April 18.
Aguila sold 4.4 million units with the same terms and at the same price in the short-form offering.
Proceeds will be used for work programs on the company's properties and for general working capital purposes.
Vancouver, B.C.-based Aguila is a natural resource development company.
| Issuer: | Aguila American Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3,381,750
|
| Units: | 7,515,000
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 19, 2013
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered (for C$1,653,750), Canaccord Genuity Corp. (for C$1,728,000)
|
| Pricing date: | April 19
|
| Settlement date: | May 19
|
| Stock symbol: | TSX Venture: AGL
|
| Stock price: | C$0.51 at close April 19
|
| Market capitalization: | C$4.72 million
|
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