By Devika Patel
Knoxville, Tenn., Aug. 5 - AM Gold Inc. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one warrant at C$0.30 per unit.
Each two-year warrant will be exercisable at C$0.35. The strike price represents a 12.9% premium to the Aug. 4 closing share price of C$0.31.
Proceeds will be used for exploration and development of the Pinaya gold-copper project, for exploration of the Red Mountain gold project and for general working capital.
The mineral exploration company is based in Vancouver, B.C.
| Issuer: | AM Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 5 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 5
|
| Stock symbol: | TSX Venture: AMG
|
| Stock price: | C$0.31 at close Aug. 4
|
| Market capitalization: | C$9.54 million
|
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