By Sheri Kasprzak
New York, April 19 - Astral Mining Corp. has arranged a C$1.08 million private placement.
The deal includes up to 2.4 million flow-through units of one share and one half-share warrant.
Of the units, half will be offered on a non-brokered basis while Canaccord Capital Corp. will act as placement agent for the remainder.
The whole warrants associated with the units are exercisable at C$0.60 each for 18 months.
The proceeds will be used for exploration on the company's Jumping Josephine property in southern British Columbia.
Based in Vancouver, B.C., Astral is a gold and silver exploration company.
| Issuer: | Astral Mining Corp.
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| Issue: | Flow-through units of one share and one half-share warrant
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| Amount: | C$1.08 million
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| Units: | 2.4 million
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| Price: | C$0.45
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.60
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| Placement agent: | Canaccord Capital Corp. (for half)
|
| Pricing date: | April 18
|
| Stock symbol: | TSX Venture: AST
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| Stock price: | C$0.47 at close April 18
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