Deal sells 40 million units of a share, a half-share warrant at C$0.10
By Devika Patel
Knoxville, Tenn., April 25 – Minera Alamos Inc. said it increased its private placement of units to C$4 million from C$3 million. IBK Capital Corp. is the agent for the deal, which priced on Feb. 16 and raised C$1.52 million on April 19.
The company is now selling 40 million units of one common share and one half-share warrant at C$0.10 per unit, with each whole warrant exercisable at C$0.15 for three years. The strike price is a 36.36% premium to the Feb. 12 closing share price of C$0.11.
In the first tranche, Minera sold 15.2 million units. Norvista Capital Corp. bought 5 million units for C$500,000, and director and president Darren Koningen bought 1.5 million units for C$150,000.
Proceeds will be used for the company’s planned acquisition of the La Fortuna project, the development of its Mexican projects and for working capital purposes.
The Toronto company explores for metals.
| Issuer: | Minera Alamos Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4 million
|
| Units: | 40 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Agent: | IBK Capital Corp.
|
| Investors: | Norvista Capital Corp. (for C$500,000) and Darren Koningen (for C$150,000)
|
| Pricing date: | Feb. 16
|
| Upsized: | April 25
|
| Settlement date: | April 19 (for C$1.52 million)
|
| Stock symbol: | TSX Venture: MAI
|
| Stock price: | C$0.11 at close Feb. 12
|
| Market capitalization: | C$5.96 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
