By Devika Patel
Knoxville, Tenn., July 29 - Latin American Minerals Inc. priced a C$3 million private placement of units.
The company will sell 10 million units at C$0.30 each on a bought-deal basis. The units consist of one share and one half-share warrant with each whole arrant exercisable at C$0.50 for 18 months.
Dundee Securities Corp. and PowerOne Capital Markets Ltd., the underwriters, have a greenshoe for C$1.5 million, or 5 million units.
Settlement is expected Aug. 15.
Proceeds will be used for working capital and general corporate purposes.
Latin American Mineral is a Toronto-based mineral exploration company.
| Issuer: | Latin American Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Greenshoe: | C$1.5 million, or 5 million units.
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Underwriters: | Dundee Securities Corp. and PowerOne Capital Markets Ltd.
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 15
|
| Stock symbol: | TSX Venture: LAT
|
| Stock price: | C$0.315 at close July 28
|
© 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.
