Deal sells units of one flow-through share and one half-share warrant
By Devika Patel
Knoxville, Tenn., June 15 – Anaconda Mining Inc. said it arranged a C$2 million private placement of units. The deal will be conducted by agent Red Cloud Klondike Strike Inc. and has a C$300,000 greenshoe.
The company will sell 28,571,429 units of one flow-through common share and one half-share warrant at C$0.07 per unit.
The whole warrants are each exercisable at C$0.10 for one year. The strike price is a 42.86% premium to the June 14 closing share price of C$0.07.
Settlement is expected July 8.
Proceeds will be used for surface exploration activities within processing distance of the Pine Cove mill.
The gold and iron ore explorer is based in Toronto.
| Issuer: | Anaconda Mining Inc.
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| Issue: | Units of one flow-through common share and one half-share warrant.
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| Amount: | C$2 million
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| Greenshoe: | C$300,000
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| Units: | 28,571,429
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| Price: | C$0.07
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.10
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| Agent: | Red Cloud Klondike Strike Inc.
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| Pricing date: | June 15
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| Settlement date: | July 8
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| Stock symbol: | Toronto: ANX
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| Stock price: | C$0.07 at close June 14
|
| Market capitalization: | C$11.71 million
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