Investor Pala Investments to purchase 71,666,667 units at C$0.06 each
By Devika Patel
Knoxville, Tenn., March 1 - Asian Mineral Resources Ltd. said it arranged a C$4.3 million private placement of units with Pala Investments Holdings Ltd.
The company will sell 71,666,667 units of one common share and one half-share warrant at C$0.06 per unit. Each whole warrant will be exercisable at C$0.10 for five years. The strike price is a 100% premium to C$0.05, the Feb. 29 closing share price.
Asian Mineral is a Toronto-based nickel and copper exploration company.
| Issuer: | Asian Mineral Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4.3 million
|
| Units: | 71,666,667
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Investor: | Pala Investments Holdings Ltd.
|
| Pricing date: | March 1
|
| Stock symbol: | TSX Venture: ASN
|
| Stock price: | C$0.05 at close Feb. 29
|
| Market capitalization: | C$10.15 million
|
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