Units of one common share, one two-year warrant sold at C$0.30 apiece
By Devika Patel
Knoxville, Tenn., Jan. 25 - American Manganese Inc. said it arranged a non-brokered private placement of units. The deal priced for C$2.1 million on Jan. 19 and will now raise C$4.22 million.
American Manganese will now sell 14,052,297 units of one common share and a warrant at C$0.30 per unit.
The whole warrants are exercisable at C$0.40 for two years. The strike price represents a 14.29% premium to the Jan. 18 closing share price of C$0.35.
The Vancouver, B.C.-based exploration and development company focuses its attention on mineral properties and commodities used in the steel manufacturing industry.
| Issuer: | American Manganese Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4,215,689
|
| Units: | 14,052,297
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 19
|
| Upsized: | Jan. 25
|
| Stock symbol: | TSX Venture: AMY
|
| Stock price: | C$0.36 at close Jan. 19
|
| Market capitalization: | C$22.08 million
|
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