New York, Feb. 25 - Minera Andes Inc. announced pricing details for its C$10 million private placement of units.
The company will sell 18,181,818 units of stock and 0.5 warrants at C$0.55 each. The whole warrants will be exercisable for one share at C$0.70 for five years.
Canaccord Capital Corp. and Raymond James Ltd. are agents.
Proceeds will be used to fund the company's share of construction costs for gold and silver ore reserve development and feasibility work at the Huevos Verdes/San Jose project in southern Argentina and for other exploration and general corporate purposes.
Minera Andes is a Spokane, Wash., gold, silver and copper exploration company working in Argentina.
| Issuer: | Minera Andes Inc.
|
| Issue: | Units of | stock and 0.5 warrants
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| Amount: | C$10 million
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| Units: | 18,181,818
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| Price: | C$0.55
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| Warrants: | 0.5 per unit
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| Warrant exercise price: | C$0.70
|
| Warrant term: | 5 years
|
| Placement agents: | Canaccord Capital Corp., Raymond James Ltd.
|
| Pricing date: | Feb. 25
|
| Stock price: | C$0.60
|
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