By Devika Patel
Knoxville, Tenn., April 16 - Altai Resources Inc. said it took in C$3.28 million from two non-brokered private placements of units. One of the deals priced on April 2 for C$2.8 million.
In that deal, the company sold 7 million units at C$0.40 per unit. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.65 for two years.
In the second deal, the company sold 1.2 million units at C$0.40 per unit for C$480,000. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.60 for two years.
The company will use the proceeds from both placements for general working capital.
Altai Resources is a natural resource exploration company based in Toronto.
| Issuer: | Altai Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.28 million
|
| Units: | 8.2 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: ATI
|
|
|
| First deal
|
| Amount: | C$2.8 million
|
| Units: | 7 million
|
| Warrant strike price: | C$0.65
|
| Pricing date: | April 2
|
| Stock price: | C$0.70 at close April 2
|
|
|
| Second deal
|
| Amount: | C$480,000
|
| Units: | 1.2 million
|
| Warrant strike price: | C$0.60
|
| Settlement date: | April 16
|
| Stock price: | C$1.45 at close April 15
|
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