Deal brokered by PI Financial; funds used for exploration, development
By Devika Patel
Knoxville, Tenn., April 13 - Amarillo Gold Corp. said it plans a private placement of units with agent PI Financial Corp. The brokered deal will raise C$10 million.
The company will sell units of one common share and one half-share warrant at C$1.50 apiece on a commercially best-efforts basis. Each whole warrant is exercisable at C$2.00 for 18 months.
The strike price is a 25% premium to the April 12 closing share price of C$1.60.
Settlement is expected April 28.
Proceeds will be used for exploration and development of the company's Mara Rosa and Lavras do Sul projects in Brazil and general corporate purposes.
Based in Vancouver, B.C, Amarillo is a gold explorer.
| Issuer: | Amarillo Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$10 million
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.00
|
| Agent: | PI Financial Corp.
|
| Pricing date: | April 13
|
| Settlement date: | April 28
|
| Stock symbol: | TSX Venture: AGC
|
| Stock price: | C$1.60 at close April 12
|
| Market capitalization: | C$89.83 million
|
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