By Jennifer Chiou
New York, June 3 - Animas Resources Ltd. announced the increase of its non-brokered private placement of units to C$2 million from C$1.51 million due to additional demand.
The company now plans to sell 5,715,000 units, up from 4.3 million units, of one common share and one half-share warrant at C$0.35 per unit. Each whole two-year warrant is exercisable at C$0.60 in the first year and at C$0.75 thereafter.
Animas said it has agreed to pay a finder's fee of 7.5%, or C$11,550, to one party on C$154,000 of the placement.
"A large portion of the financing went to a well connected Mexican businessman who is committed to the long-term development of the Santa Teresa Mining District," Gregory E. McKelvey, president and chief executive officer, said in a news release.
The company will use the proceeds for drilling at the Santa Gertrudis gold property.
Animas Resources is a mineral resource company based in Vancouver, B.C.
| Issuer: | Animas Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,000,250 (upsized from C$1,505,000)
|
| Units: | 5,715,000 (up from 4.3 million)
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60 in the first year, C$0.75 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | May 15
|
| Upsized: | June 3
|
| Stock symbol: | TSX Venture: ANI
|
| Stock price: | C$0.37 at close May 14
|
| Market capitalization: | C$10.2 million
|
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