By Devika Patel
Knoxville, Tenn., July 12 - Amerix Precious Metals Corp. announced it has negotiated a private placement with Coniston Investment Corp. of up to 14 million units at a price of C$0.25 per unit for a total size of up to C$3.5 million.
Each unit consists of one share and one-half-share warrant, with each full warrant entitling the holder to purchase one additional share for C$0.35 up to 12 months after closing. The warrants may expire sooner if, after four months and one day, the share price exceeds C$0.45 for 10 consecutive trading days.
The deal is expected to close by July 31.
Proceeds will be used for exploration work on Amerix's Brazilian properties and for general corporate purposes.
Toronto-based Amerix is a precious metals exploration company focused on gold properties in Brazil.
| Issuer: | Amerix Precious Metals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $3.5 million
|
| Units: | 14 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 1 year
|
| Warrant strike price: | C$0.35
|
| Investor: | Coniston Investment Corp.
|
| Settlement date: | July 12
|
| Stock symbol: | TSX: APM
|
| Stock price: | C$0.27 at close July 11
|
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