Brokered deal raised proceeds for exploration, development of projects
By Devika Patel
Knoxville, Tenn., Sept. 29 - Almaden Minerals Ltd. said it sold an additional 450,000 common shares in the fully exercised 15% greenshoe of a brokered private placement of stock. The deal priced on Sept. 8 and the company raised C$7.5 million on Sept. 22 for a total of C$8.63 million.
The company sold 3 million common shares at C$2.50 apiece in the main portion of the deal; the price per share was a 16.67% discount to the Sept. 7 closing share price of C$3.00.
Proceeds will be used for exploration and development of the company's Mexico projects, including expanding drilling on its Ixtaca project, and for general working capital.
Based in Vancouver, B.C., Almaden is a mineral explorer.
| Issuer: | Almaden Minerals Ltd.
|
| Issue: | Common shares
|
| Amount: | C$8,625,000 (plus exercised C$1,125,000 greenshoe)
|
| Shares: | 3.45 million
|
| Price: | C$2.50
|
| Warrants: | No
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 22 (for C$7.5 million), Sept. 29 (for C$1,125,000)
|
| Stock symbol: | Toronto: AMM
|
| Stock price: | C$2.74 at close Sept. 8
|
| Market capitalization: | C$147.85 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
