By Devika Patel
Knoxville, Tenn., Oct. 11 - Asian Mineral Resources Ltd. announced it plans a $12.3 million private placement of units.
Asian Minerals will sell 7 million units at C$1.75 apiece to an unnamed purchaser associated with the Santa Elena Group. Each unit consists of one share and one-half share warrant. The warrants are exercisable for two years at C$2.50.
The units will be sold in two tranches, with the first tranche valued at C$4.1 million and the second valued at C$8.2 million.
Asian Mineral is a Toronto-based mineral exploration company.
| Issuer: | Asian Mineral Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$12.3 million
|
| Units: | 7,000,000
|
| Price: | C$1.75
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.50
|
| Pricing date: | Oct. 11
|
| Stock symbol: | TSX Venture: ASN
|
| Stock price: | C$2.25 at close Oct. 11
|
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