Non-brokered deal funds exploration, drilling of company's properties
By Devika Patel
Knoxville, Tenn., April 25 - Argentum Silver Corp. said it plans a C$5.25 million non-brokered private placement of units.
The company will sell 15 million units of one common share and one half-share warrant at C$0.35 per unit.
Each whole warrant will be exercisable at C$0.50 for one year. The strike price is a 42.86% premium to C$0.35, the April 21 closing share price.
Proceeds will be used for exploration and drilling programs at the Lachiguiri property and the Coyote and Victoria properties.
Argentum is a silver explorer in Vancouver, B.C.
| Issuer: | Argentum Silver Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.25 million
|
| Units: | 15 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | April 25
|
| Stock symbol: | TSX Venture: ASL
|
| Stock price: | C$0.35 at close April 21
|
| Market capitalization: | C$1.55 million
|
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