By Devika Patel
Knoxville, Tenn., July 7 - AM Gold Inc. said it negotiated a C$1.4 million non-brokered private placement of units.
The company will sell 4 million units at C$0.35 apiece. Each unit consists of one flow-through common share and one warrant. Two warrants will be exercisable for one share at C$0.40 for one year.
Proceeds will be used for exploration.
The mineral exploration company is based in Vancouver, B.C.
Issuer: | AM Gold Inc.
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Issue: | Units of one flow-through common share and one warrant
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Amount: | C$1.4 million
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Units: | 4 million
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Price: | C$0.35
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Warrants: | One warrant per unit (two warrants are exercisable for one share)
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Warrant expiration: | One year
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Warrant strike price: | C$0.40
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Agent: | Non-brokered
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Pricing date: | July 7
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Stock symbol: | TSX Venture: AMG
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Stock price: | C$0.375 at close July 6
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Market capitalization: | C$11.1 million
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