By Laura Lutz
Des Moines, May 30 - Andean American Mining Corp. raised C$7,366,150 from a private placement of units, including C$366,150 from a partially exercised greenshoe.
The company sold 11,332,538 units of one share and one half-share warrant at C$0.65 per unit. Each whole warrant will be exercisable at C$0.85 for two years.
The deal priced on April 26 as an offering of up to C$7 million.
The agents, a syndicate including Research Capital Corp. and PowerOne Capital Markets Ltd., had a greenshoe for up to C$3 million of additional units.
Proceeds will be used for project development, working capital and general corporate purposes.
Andean is a mining company based in Vancouver, B.C.
| Issuer: | Andean American Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$7,366,150 (includes greenshoe for C$366,150)
|
| Units: | 11,332,538
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.85
|
| Agents: | Research Capital Corp., PowerOne Capital Markets Ltd.
|
| Pricing date: | April 26
|
| Settlement date: | May 30
|
| Stock symbol: | TSX Venture: AAG
|
| Stock price: | C$0.70 at close April 25
|
| Stock price: | C$0.64 at close May 29
|
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