By Laura Lutz
Washington, Dec. 11 - AMI Resources Inc. announced plans to raise up to C$2.2 million from a private placement of units.
The company intends to sell up to 11 million units of one share and one warrant at C$0.20 per unit. Each warrant will be exercisable at C$0.40 for two years.
Expiry of the warrants may be accelerated to 30 days if, at any time more than four months after settlement, the closing price of the company's shares exceeds C$0.75 for 20 consecutive days.
Proceeds will be used for exploration on the company's Ghana mineral properties and for working capital.
AMI is a Vancouver, B.C.-based mineral exploration and development company.
| Issuer: | AMI Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.2 million
|
| Units: | 11 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Dec. 11
|
| Stock symbol: | TSX Venture: AMU
|
| Stock price: | C$0.20 at close Dec. 8
|
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