By Devika Patel
Knoxville, Tenn., May 10 - Abacus Mining & Exploration Corp. said it has completed a C$4.5 million private placement of stock.
The company sold 15 million common shares at C$0.30 apiece to KGHM Polska Miedź SA.
Proceeds will be used for exploration and ongoing project expenditures on Abacus' Afton-Ajax copper-gold project and general corporate purposes.
Based in Vancouver, B.C., Abacus is a mineral exploration company.
| Issuer: | Abacus Mining & Exploration Corp.
|
| Issue: | Ordinary shares
|
| Amount: | C$4.5 million
|
| Shares: | 15 million
|
| Price: | C$0.30
|
| Warrants: | No
|
| Investor: | KGHM Polska Miedź SA
|
| Settlement date: | May 10
|
| Stock symbol: | TSX Venture: AME
|
| Stock price: | C$0.225 at close May 7
|
| Market capitalization: | C$39.1 million
|
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