Deal sells two types of units to finance exploration, working capital
By Devika Patel
Knoxville, Tenn., Aug. 23 - Anconia Resources Corp. said it settled a C$1.2 million oversubscribed private placement of units. The deal priced for C$900,000 on Aug. 2 and was increased to C$996,750 on Aug. 3.
Anconia sold 3.54 million units of one common share and one half-share warrant at C$0.20 per unit.
The company also sold 2,119,478 flow-through units of one flow-through common share and one half-share warrant at C$0.23 per unit.
Each whole warrant is exercisable at C$0.28 for two years. The strike price is a 12% premium to C$0.25, the Aug. 1 closing share price.
Proceeds will be used for exploration on the company's properties in Nunavut or Ontario and working capital purposes.
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$1,195,480
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.28
|
| Pricing date: | Aug. 2
|
| Upsized: | Aug. 3
|
| Settlement date: | Aug. 23
|
| Stock symbol: | TSX Venture: ARA
|
| Stock price: | C$0.25 at close Aug. 1
|
| Market capitalization: | C$9.64 million
|
|
|
| Units:
|
| Amount: | C$708,000
|
| Units: | 3.54 million
|
| Price: | C$0.20
|
|
|
| Flow-through units:
|
| Amount: | C$487,480
|
| Units: | 2,119,478
|
| Price: | C$0.23
|
© 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.
