Non-brokered deal finances exploration and working capital purposes
By Devika Patel
Knoxville, Tenn., Sept. 19 - Anconia Resources Corp. said it raised C$195,000 in the third tranche of a C$3 million non-brokered private placement of units. The deal priced Aug. 20 and raised C$825,000 on Aug. 27 and C$614,288 on Sept. 5.
The company is selling units of one common share and one half-share warrant at C$0.10 per unit and flow-through units of one flow-through common share and one half-share warrant at C$0.12 per unit.
Anconia sold 1 million units and 6,041,666 flow-through units in the initial tranche, 65,000 units and 4,577,400 flow-through units in the second tranche and 100,000 units and 1,541,666 flow-through units in the third tranche.
Each whole unit warrant will be exercisable at C$0.14 for 18 months. Each whole flow-through unit warrant will be exercisable at C$0.16 for 18 months. The strike prices are 40% and 60% premiums to the Aug. 19 closing share price of C$0.10.
Proceeds will be used for exploration and working capital purposes.
Anconia is a Toronto-based base and precious metals 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$3 million
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Agent: | Non-brokered
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| Pricing date: | Aug. 20
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| Settlement dates: | Aug. 27 (for C$825,000), Sept. 5 (for C$614,288), Sept. 19 (for C$195,000)
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| Stock symbol: | TSX Venture: ARA
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| Stock price: | C$0.10 at close Aug. 19
|
| Market capitalization: | C$6.78 million
|
|
|
| Units
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| Price: | C$0.10
|
| Warrant strike price: | C$0.14
|
|
|
| Flow-through units
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| Price: | C$0.12
|
| Warrant strike price: | C$0.16
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