Deal funds mineral exploration at Kinsley Mountain, corporate purposes
By Devika Patel
Knoxville, Tenn., June 9 - Animas Resources Ltd. said it negotiated a C$1 million non-brokered private placement of units.
The company will sell 5 million units at C$0.20 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.30 for two years. The strike price reflects a 46.34% premium to the June 8 closing share price of C$0.205.
Insiders will participate for about 35% of the placement.
Proceeds will be used for mineral exploration on the Kinsley Mountain property in Nevada, advancing the Santa Gertrudis gold project in Mexico and general corporate purposes.
Animas is a silver, gold and copper exploration company based in Vancouver, B.C.
| Issuer: | Animas Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | June 9
|
| Stock symbol: | TSX Venture: ANI
|
| Stock price: | C$0.205 at close June 8
|
| Market capitalization: | C$9.58 million
|
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