Company sells two types of shares at 6.67% discount to market price
By Devika Patel
Knoxville, Tenn., June 6 - Anaconda Mining Inc. said it completed a C$1.29 million non-brokered private placement of stock.
The company sold 16,999,728 common shares at C$0.07 apiece and 1,394,000 flow through common shares at the same price.
The price per share is a 6.67% discount to the June 3 closing share price of C$0.075.
Proceeds were used, in part, to retire C$1.05 million of promissory notes, including accrued interest, that were coming due at the end of June. The remainder of the funds will be used for exploration at the Pine Cove gold mine.
The gold and iron ore explorer is based in Toronto.
| Issuer: | Anaconda Mining Inc.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$1,287,561
|
| Price: | C$0.07
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | June 6
|
| Stock symbol: | Toronto: ANX
|
| Stock price: | C$0.075 at close June 3
|
| Market capitalization: | C$11.88 million
|
|
|
| Common shares
|
| Amount: | C$1,189,981
|
| Shares: | 16,999,728
|
|
|
| Flow-through shares
|
| Amount: | C$97,580
|
| Shares: | 1,394,000
|
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