By Devika Patel
Knoxville, Tenn., Nov. 19 - American Bonanza Gold Corp. said it plans a C$2 million private placement of units.
The company will sell 5 million units at C$0.40 per unit. Each unit will consist of one flow-through share, one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.30 for 18 months.
Dundee Securities Corp. will be the agent. Dundee will receive an 8% cash fee and compensation warrants exercisable for a number of non-flow-through common shares equal to 8% of the number of flow-through and non flow-through common shares sold.
Proceeds will be used for exploration and general working capital.
Vancouver, B.C.-based American Bonanza is a gold exploration company.
| Issuer: | American Bonanza Gold Corp.
|
| Issue: | Units of one flow-through share, one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Dundee Securities Corp.
|
| Fees: | 8% in cash and warrants
|
| Pricing date: | Nov. 19
|
| Stock symbol: | Toronto: BZA
|
| Stock price: | C$0.205 at close Nov. 16
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
