Proceeds to fund further exploration under agreement with Golden Star
By Jennifer Chiou
New York, Oct. 25 - AMI Resources Inc. announced an up to C$1.5 million private placement of units, consisting of one share and one half-share warrant exercisable at C$0.25 for one year.
The 10 million units are priced at C$0.15 per unit.
Expiration of the warrants may be accelerated to 30 days if, at any time more than four months and one day after settlement, the closing price of the company's shares exceeds C$0.50 for 10 consecutive days. The warrant strike price represents a 61.29% premium to the company's closing share price on Monday.
Proceeds will be used primarily to fund further exploration expenditures required under the option agreement with Golden Star Resources Ltd. to earn a 51% interest in the Sirba Gold Project in Niger and for general working capital.
AMI is a Vancouver, B.C.-based mineral exploration and development company. It will pay a 7% finder's fee.
| Issuer: | AMI Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Oct. 25
|
| Stock symbol: | TSX Venture: AMU
|
| Stock price: | C$0.155 at close Oct. 25
|
| Market capitalization: | C$7.89 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
