By Sheri Kasprzak
Atlanta, Feb. 28 - Amanta Resources Ltd. said it has wrapped a private placement of units for C$2.8 million.
The company sold 9,333,498 units at C$0.30 each. The units include one share and one half-share warrant.
The whole warrants provide for an additional share at C$0.45 each through Feb. 28, 2007.
The deal was downsized from its original C$3 million.
Also, on Feb. 2, the company increased the number of units being offered in the deal to 10 million from 8,571,429 and dropped the price to C$0.30 from C$0.35 each. The offering was originally announced Dec. 23.
Jennings Capital Inc. was 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$2.8 million
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| Shares: | 9,333,498 units
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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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| Settlement date: | Feb. 28
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| Stock price: | C$0.33 at close Dec. 23
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| Stock price: | C$0.45 at close Feb. 28
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