By Devika Patel
New York, Aug. 9 - Amerix Precious Metals Corp. announced it has completed its previously announced C$3,772,500 private placement of units.
The company issued 15.09 million units at $0.25 per unit.
The deal priced on July 12 as an offering of up to 14 million units, but on July 31, Amerix increased the maximum size to C$3.81 million from C$3.5 million.
Each unit consists of one share and one half-share warrant. Each whole warrant is exercisable at C$0.35 for one year. The warrants may expire earlier if Amerix's closing price on the TSX Venture exchange is C$0.45 or higher for 10 consecutive trading days. In that case, the warrants will expire 20 days after Amerix notifies the warrant holders.
Proceeds will be used for exploration work and for general working capital purposes.
Coniston Investment Corp. was the agent.
Coniston received a cash commission of C$296,600. In addition, it received a broker warrant exercisable for 14,830,000 units. Each unit consists of one share and one half share warrant. Each of those warrants is exercisable at C$0.35 for one year and is subject to the same acceleration provisions as the warrants sold in the placement. The broker warrant is exercisable at C$0.25 per broker unit for one year.
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: | C$3,772,500
|
| Units: | 15.09 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Investor: | Coniston Investment Corp.
|
| Pricing date: | July 12
|
| Upsized: | July 31
|
| Settlement date: | Aug. 9
|
| Stock symbol: | TSX Venture: APM
|
| Stock price: | C$0.27 at close July 12
|
| Stock price: | C$0.25 at close July 31
|
| Stock price: | C$0.235 at close Aug. 8
|
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