By Sheri Kasprzak
New York, April 24 - Apogee Minerals Ltd. said it has closed its previously announced private placement for C$8.81 million.
The company issued 8.81 million units of one share and one half-share warrant. The whole warrants are exercisable at C$1.25 each through Oct. 24, 2007.
Salman Partners Inc., Sprott Securities Inc. and Wolverton Securities Ltd. were the placement agents for the offering, which priced March 13 as a C$10 million offering.
Proceeds will be used for exploration on the company's Solucion and Pulacayo-Paca properties and for general corporate purposes.
Separately, Apogee settled a non-brokered private placement for C$378,423, selling 378,423 units under the same terms as the brokered offering.
Toronto, Ont.-based Apogee is a mineral exploration company focused on silver-zinc projects in South America.
| Issuer: | Apogee Minerals Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$8.81 million
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| Units: | 8.81 million
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| Price: | C$1.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Oct. 24, 2007
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| Warrant strike price: | C$1.25
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| Placement agent: | Salman Partners Inc. (lead), Sprott Securities Inc. and Wolverton Securities Ltd.
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| Pricing date: | March 13
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| Settlement date: | April 24
|
| Stock symbol: | TSX Venture: APE
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| Stock price: | C$1.02 at close March 13
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| Stock price: | C$1.17 at close April 21
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