By Devika Patel
Knoxville, Tenn., April 29 - Apogee Minerals Ltd. announced a C$2.75 million non-brokered private placement of units. There is a C$500,000 greenshoe.
The company will sell the units of one common share and one half-share warrant at C$0.10 per unit. The whole warrants are exercisable at C$0.20 each for two years.
Proceeds will be used to continue development of key projects and for working capital purposes.
Toronto-based Apogee is a producer of silver, zinc and lead.
| Issuer: | Apogee Minerals Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.75 million
|
| Greenshoe: | C$500,000
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | April 29
|
| Stock symbol: | TSX Venture: APE
|
| Stock price: | C$0.09 at close April 28
|
| Market capitalization: | C$9.94 million
|
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