By Sheri Kasprzak
Atlanta, April 25 - Apex Silver Mines Ltd. said it sold $5,570,027 in a direct placement of stock.
The company issued 357,741 shares at $15.57 each to San Cristobal Transportadora de Electricidad SA, a subsidiary of Ingelec SA.
The price per share is equal to the closing price of the company's stock on April 12.
The shares are being sold under Apex's shelf registration.
Based in the George Town, Cayman Islands, Apex is a silver exploration company. It plans to use the proceeds from the deal to design and construct a power line to supply its San Cristobal project.
| Issuer: | Apex Silver Mines Ltd.
|
| Issue: | Stock
|
| Amount: | $5,570,027
|
| Shares: | 357,741
|
| Price: | $15.57
|
| Warrants: | No
|
| Investor: | San Cristobal Transportadora de Electricidad SA
|
| Pricing date: | April 12
|
| Settlement date: | April 22
|
| Stock price: | $15.57 at close April 12
|
| Stock price: | $15.10 at close April 22
|
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