By Sheri Kasprzak
New York, Aug. 8 - American Bonanza Gold Corp. has completed a private placement with a partially exercised greenshoe for C$4.64 million in proceeds.
The company sold a total of 8,714,000 flow-through shares at C$0.45 each and 1,588,000 units at C$0.45 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.56 each for 30 months.
A syndicate of placement agents led by Desjardins Securities Inc. and including Canaccord Capital Corp. exercised part of a greenshoe. The greenshoe for the offering had been for up to 40% of the entire proceeds.
The deal was first announced July 21 as a C$4 million offering of 7,777,778 flow-through shares and 1,111,111 units under the same terms.
Based in Vancouver, B.C., American Bonanza is a gold exploration company. The proceeds will be used for exploration on the Fenelon gold project, for the repayment of a $600,000 loan and for development of the Copperstone project in Arizona.
| Issuer: | American Bonanza Gold Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$4.6359 million (includes greenshoe for C$400,000) in net proceeds
|
| Placement agents: | Desjardins Securities Inc. (lead); Canaccord Capital Corp.
|
| Pricing date: | July 21
|
| Settlement date: | Aug. 8
|
| Stock price: | C$0.365 at close July 19 (last trade)
|
|
|
| Flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 8,714,000
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 1,588,000
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | C$0.56
|
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