By Devika Patel
Knoxville, Tenn., Aug. 15 - Abacus Mining & Exploration Corp. said it will raise C$3 million in a non-brokered private placement of units.
Abacus will sell 10 million units of one flow-through common share and one half-share warrant at C$0.30 per unit.
Each whole warrant will be exercisable at C$0.50 for 18 months.
Settlement is expected Sept. 3.
Proceeds will be used to finance further exploration and development of the company's Afton property.
Based in Vancouver, B.C., Abacus is a mineral exploration company.
| Issuer: | Abacus Mining & Exploration Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 15
|
| Settlement date: | Sept. 3
|
| Stock price: | TSX Venture: AME
|
| Stock price: | C$0.28 at close Aug. 14
|
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