By Sheri Kasprzak
Atlanta, March 3 - Axmin Inc. said it has wrapped a private placement of units for C$8,030,080.
The company sold a total of 13,383,467 units at C$0.60 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.75 each for 18 months.
Placement agent Haywood Securities Inc. fully exercised a greenshoe for 3.1 million units.
Axmin's major shareholder, Addax Mining Holdings BV, bought 6,331,287 units.
Toronto-based Axmin is a mineral exploration company. It plans to use the proceeds from the deal for exploration and development programs and for general corporate purposes.
| Issuer: | Axmin Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$8,030,080
|
| Units: | 13,383,467 (includes greenshoe for 3.1 million)
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Placement agent: | Haywood Securities Inc.
|
| Investors: | Addax Mining Holdings BV (for 6,331,287 units)
|
| Pricing date: | Feb. 7
|
| Settlement date: | March 3
|
| Stock price: | C$0.52 at close Feb. 7
|
| Stock price: | C$0.57 at close March 3
|
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