By Sheri Kasprzak
New York, Dec. 21 - Altair Ventures Inc. priced a private placement for up to C$1,000,200.
The company plans to sell 3,334,000 units at C$0.30 each.
The units consist of one share and one warrant with each warrant exercisable at C$0.50 for two years.
The expiry of the warrants may be accelerated if the company's stock trades above C$1.00 for more than 20 consecutive trading days.
Canaccord Capital Corp. is the placement agent.
Proceeds will be used for exploration on the company's acquisition of a 70% interest in Great Panther Resources Ltd.'s San Antonio property in Chihuahua, Mexico.
Closing of the deal is contingent upon the completion of the acquisition.
Vancouver, B.C.-based Altair is a gold and copper exploration company.
| Issuer: | Altair Ventures Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,000,200
|
| Units: | 3.334 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: AVX
|
| Stock price: | C$0.33 at close Dec. 21
|
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