Non-brokered offering slated to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., June 13 – Armor Minerals Inc. said it plans a C$1 million non-brokered private placement of units.
The company will sell 5 million units of one common share and a half-share warrant at C$0.20 per unit. Each whole five-year warrant is exercisable at C$0.40, an 81.82% premium to the June 10 closing share price of C$0.22.
Proceeds will be used for follow-up exploration on drill results at the Warmister Project in Buckingham, Va., and for general working capital purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Armor Minerals Inc.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$1 million
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| Units: | 5 million
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | C$0.40
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| Agent: | Non-brokered
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| Pricing date: | June 13
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| Stock symbol: | TSX Venture: A
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| Stock price: | C$0.22 at close June 10
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| Market capitalization: | C$8 million
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