By Sheri Kasprzak
New York, Sept. 22 - Almaden Minerals Ltd. said it has priced a C$5.1 million private placement of units.
The company intends to sell up to 3 million units at C$1.70 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$2.10 each for two years.
Almaden may force the exercise of the warrants if, beginning four months after closing, its stock trades above C$2.75 for more than 20 consecutive trading days.
Quest Securities Corp. is the placement agent for the offering, which is slated to close on Oct. 20.
Based in Vancouver, B.C., Almaden is a mineral exploration company.
| Issuer: | Almaden Minerals Ltd.
|
| Issue: | Units of one share and one warrant
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| Amount: | C$5.1 million (maximum)
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| Units: | 3 million (maximum)
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| Price: | C$1.70
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| Warrants: | One warrant per unit
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| Warrant expiration; | Two years
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| Warrant strike price: | C$2.10
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| Placement agent: | Quest Securities Corp.
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| Pricing date: | Sept. 22
|
| Settlement date: | Oct. 20
|
| Stock price: | C$1.85 at close Sept. 22
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