Offering of two types of units expected to fund exploration programs
By Devika Patel
Knoxville, Tenn., April 30 - Anconia Resources Corp. said it raised C$400,300 in the second tranche of a C$4 million private placement of units. The deal priced with a C$800,000 greenshoe on Feb. 14 and raised C$1.23 million on March 19.
Anconia is selling units of one common share and one half-share warrant at C$0.20 per unit, with each whole warrant exercisable at C$0.27 per share for 18 months. The strike price is a 35% premium to C$0.20, the Feb. 13 closing share price.
The company is also selling flow-through units of one flow-through common share and one half-share warrant at C$0.23 per unit, with each whole warrant exercisable at C$0.30 for 18 months. The strike price is a 50% premium to the Feb. 13 closing price.
In the first tranche, the company sold 450,000 units and 4,943,000 flow-through units. It sold 845,000 units and 1,005,649 flow-through units in the second tranche. The company expects to close a final tranche of the offering in May.
Proceeds will be used to conduct a comprehensive exploration program of three properties owned by the company in the Nunavut Territory in Canada, to acquire new properties, to expand existing land claims and for working capital.
Anconia is a Toronto-based gold explorer.
| Issuer: | Anconia Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$4 million
|
| Greenshoe: | C$800,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
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| Pricing date: | Feb. 14
|
| Settlement date: | March 19 (for C$1,226,890), April 30 (for C$400,300)
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| Stock symbol: | TSX Venture: ARA
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| Stock price: | C$0.20 at close Feb. 13
|
| Market capitalization: | C$7.34 million
|
|
|
| Units:
|
| Price: | C$0.20
|
| Warrant strike price: | C$0.27
|
|
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| Flow-through units:
|
| Price: | C$0.23
|
| Warrant strike price: | C$0.30
|
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