By Devika Patel
Knoxville, Tenn., Dec. 17 - Asian Mineral Resources Ltd. announced it plans a C$20 million non-brokered private placement of units.
Asian Minerals will sell 11,428,571 units at C$1.75 apiece. Each unit consists of one share and 0.595 of a warrant. The whole warrants are exercisable at C$2.10 until April 30, 2008.
Proceeds will be used for the development of Asian Mineral's Ban Phuc nickel project and working capital purposes.
Asian Mineral is a Toronto-based mineral exploration company.
| Issuer: | Asian Mineral Resources Ltd.
|
| Issue: | Units of one share and 0.595 of a warrant
|
| Amount: | C$20 million
|
| Units: | 11,428,571
|
| Price: | C$1.75
|
| Warrants: | 0.595 of a warrant per unit
|
| Warrant expiration: | April 30, 2008
|
| Warrant strike price: | C$2.10
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 17
|
| Stock symbol: | TSX Venture: ASN
|
| Stock price: | C$1.62 at close Dec. 17
|
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