By Sheri Kasprzak
New York, Oct. 19 - Baja Mining Corp. said it priced a private placement for up to C$1.2 million.
The non-brokered offering includes up to 3,428,571 units at C$0.35 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.45 each for two years.
A C$500,000 portion of the private placement is contingent upon the completion of another private placement to raise a combined C$3 million. Baja is in talks with brokerage firms for this subsequent offering.
Proceeds will be used for the completion of a feasibility study under way and for working capital.
Based in Vancouver, B.C., Baja is a mineral exploration company.
| Issuer: | Baja Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.2 million (maximum)
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| Units: | 3,428,571 (maximum)
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| Price: | C$0.35
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.45
|
| Placement agent: | Non-brokered
|
| Pricing date: | Oct. 18
|
| Stock price: | C$0.375 at close Oct. 18
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