Non-brokered offering funds debt repayment and general working capital
By Devika Patel
Knoxville, Tenn., Nov. 7 - Antioquia Gold Inc. said it plans a C$1 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one warrant at C$0.05 per unit, with each warrant exercisable at C$0.05 for 18 months. The strike price is a 25% premium to C$0.04, the Nov. 6 closing share price.
Proceeds will be used for debt repayment and general working capital and to complete key studies at the Cisneros project.
Antioquia is a gold exploration company based in Calgary, Alta.
Issuer: | Antioquia Gold Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$1 million
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Units: | 20 million
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Price: | C$0.05
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.05
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Agent: | Non-brokered
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Pricing date: | Nov. 7
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Stock symbol: | TSX Venture: AGD
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Stock price: | C$0.04 at close Nov. 6
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Market capitalization: | C$5.42 million
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