Union Securities conducts deal to finance exploration, working capital
By Devika Patel
Knoxville, Tenn., Dec. 14 - Argentium Resources Inc. said it plans a C$2 million private placement of units. Union Securities Ltd. will conduct the offering on a commercially reasonable basis.
The company will sell units of one common share and one warrant at C$0.60 per unit and flow-through units of one flow-through common share and one half-share warrant at the same price.
Each whole warrant will be exercisable at C$1.00 for 18 months. The strike price is a 69.49% premium to C$0.59, the Dec. 13 closing share price.
Proceeds will be used for exploration and general working capital purposes.
Argentium is a Toronto-based metals explorer.
| Issuer: | Argentium Resources Inc.
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| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
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| Amount: | C$2 million
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| Price: | C$0.60
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.00
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| Agent: | Union Securities Ltd.
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| Pricing date: | Dec. 14
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| Stock symbol: | CNSX: AOK
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| Stock price: | C$0.59 at close Dec. 13
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| Units
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| Warrants: | One warrant per unit
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|
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| Flow-through units
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| Warrants: | One half-share warrant per unit
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