Proceeds from non-brokered offering are expected to finance drilling
By Devika Patel
Knoxville, Tenn., Oct. 16 - Antioquia Gold Inc. said it reduced the price per unit in a C$3 million non-brokered private placement of units. The deal priced Sept. 17.
The company will now sell units of one common share and one half-share warrant at C$0.12 per unit. The units originally were priced at C$0.17 apiece.
Each whole warrant will be exercisable at C$0.25 for six months. The strike price reflects a 38.89% premium to the Sept. 14 closing share price of C$0.18.
Proceeds will be used for drilling.
Antioquia is a gold exploration company based in Calgary, Alta.
| Issuer: | Antioquia Gold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 17
|
| Revised: | Oct. 16
|
| Stock symbol: | TSX Venture: AGD
|
| Stock price: | C$0.18 at close Sept. 14
|
| Market capitalization: | C$16.8 million
|
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