Non-brokered deal funds Patterson Lake South Property, working capital
By Devika Patel
Knoxville, Tenn., Dec. 5 - Alpha Minerals Inc. said it completed a C$4 million non-brokered private placement of units. The deal priced for C$3 million on Nov. 21.
The company sold 2,666,667 units of one common share and one half-share warrant at C$1.50 per unit.
Each whole warrant is exercisable at C$1.80 for one year. The strike price is a 12.5% premium to the Nov. 20 closing share price of C$1.60.
Proceeds will be used for the company's share of exploration work on the Patterson Lake South Property and general working capital.
Based in Vancouver, B.C., Alpha Minerals is a uranium and gold explorer.
| Issuer: | Alpha Minerals Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4 million
|
| Units: | 2,666,667
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.80
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 5
|
| Stock symbol: | TSX Venture: AMW
|
| Stock price: | C$1.60 at close Nov. 20
|
| Market capitalization: | C$22 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.
