By Devika Patel
Knoxville, Tenn., Jan. 2 - Azteca Gold Corp. closed a C$1.18 million tranche of a non-brokered private placement of units. The company said it might raise an additional C$500,000 by Jan. 7.
The company sold 23,666,044 units of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.25 until Dec. 31, 2010.
Azteca Gold said it might sell an additional 10 million units.
Proceeds will be used for drilling and assaying expenses on the Two Mile Project as well as general working capital.
Spokane, Wash.-based Azteca Gold is a mineral exploration company focused mainly on exploring for gold and silver in Mexico and the United States.
| Issuer: | Azteca Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,183,302
|
| Units: | 23,666,044
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 31, 2010
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Settlement date: | Jan. 2
|
| Stock symbol: | TSX Venture: AZG
|
| Stock price: | C$0.08 at close Dec. 31
|
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