By Devika Patel
Knoxville, Tenn., May 20 - Axmin Inc. said it is changing the terms of the units it plans to sell in a C$6 million non-brokered private placement. The deal priced May 12.
The company will sell 15 million units at C$0.40 apiece.
Each unit will consist of one common share and one half-share warrant. The whole warrants are exercisable at C$0.57 for two years. Previously, the company had intended to include whole warrants in each unit, exercisable at C$0.47 apiece.
Proceeds will be used for ongoing development and exploration programs and for general corporate purposes.
Based in Toronto, Axmin is a mineral exploration company.
| Issuer: | Axmin Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6 million
|
| Units: | 15 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.57
|
| Agent: | Non-brokered
|
| Pricing date: | May 12
|
| Amended: | May 20
|
| Stock symbol: | TSX Venture: AXM
|
| Stock price: | C$0.455 at close May 9
|
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