Company offers shares, full warrants at C$0.05 per unit to investors
By Devika Patel
Knoxville, Tenn., Feb. 17 - American Consolidated Minerals Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one warrant at C$0.05 per unit. Each one-year warrant will be exercisable at C$0.10. The strike price is a 100% premium to C$0.05, the Feb. 16 closing share price.
President and director Al Fabbro will invest C$500,000.
Proceeds will be added to working capital and used for the exploration program being conducted on the Sierra Rosario silver and gold project in Mexico.
Based in Vancouver, B.C., American Consolidated Minerals explores gold and copper properties.
| Issuer: | American Consolidated Minerals Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Investor: | Al Fabbro (for C$500,000)
|
| Pricing date: | Feb. 17
|
| Stock symbol: | TSX Venture: AJC
|
| Stock price: | C$0.05 at close Feb. 16
|
| Market capitalization: | C$5.48 million
|
© 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.
