Non-brokered deal raises proceeds to complete final feasibility study
By Devika Patel
Knoxville, Tenn., Nov. 12 - Axmin Inc. said it increased a non-brokered private placement of units that priced Nov. 1.
The company will now sell units of one common share and one warrant at C$0.12 per unit for C$10 million, increased from C$6 million.
Each warrant will be exercisable at C$0.18 for two years. The strike price represents a 28.57% premium to C$0.14, the Oct. 29 closing share price.
Proceeds will be used for completion of the final feasibility study for the company's Passendro Gold Project in the Central African Republic and exploration on its permit areas.
The mineral exploration company is based in Toronto.
| Issuer: | Axmin Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$10 million
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 1
|
| Upsized: | Nov. 12
|
| Stock symbol: | TSX Venture: AXM
|
| Stock price: | C$0.14 at close Oct. 29
|
| Market capitalization: | C$59.14 million
|
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