By Sheri Kasprzak
Atlanta, Feb. 2 - Amanta Resources Ltd. said it has increased the number of units and dropped the price on its C$3 million private placement.
The new offering includes 10 million units at C$0.30 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.45 each for two years.
On Dec. 23, the company announced its intentions to raise the money by selling up to 8,571,429 units at C$0.35 each. The warrants were originally priced at C$0.50 each.
Jennings Capital Inc. is the placement agent in the deal.
Based in Vancouver, B.C., Amanta is a gold and diamond exploration and development company. It plans to use the proceeds from the offering for diamond drilling on its Langu gold project, for a purchase option on its Doi Ngom breccia pipe, and for the evaluation of new projects. The remainder of the funds will be used for general working capital.
| Issuer: | Amanta Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3 million
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| Units: | 10 million
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| Price: | C$0.30
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.45
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| Placement agent: | Jennings Capital Inc.
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| Announcement date: | Dec. 23
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| Amended: | Feb. 1
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| Stock price: | C$0.33 at close Dec. 23
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| Stock price: | C$0.40 at close Feb. 1
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