By Devika Patel
Knoxville, Tenn., Dec. 31 - American Bonanza Gold Corp. said it has completed a C$1 million non-brokered private placement of units.
The company sold 2.5 million units at C$0.40 per unit. Each unit consists of one flow-through share, one common share and one half-share transferable warrant. Each whole warrant will be exercisable at C$0.30 for 18 months.
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 transferable warrant
|
| Amount: | C$1 million
|
| Units: | 2.5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 31
|
| Stock symbol: | Toronto: BZA
|
| Stock price: | C$0.20 at close Dec. 31
|
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