Non-brokered deal will finance exploration and general working capital
By Devika Patel
Knoxville, Tenn., Jan. 31 - Argus Metals Corp. said it plans a C$2 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.15 for 18 months. The strike price is a 57.9% premium to C$0.095, the Jan. 30 closing share price.
Settlement is expected Feb. 29.
Proceeds will be used for exploration and general working capital purposes.
Argus is a gold explorer in Vancouver, B.C.
| Issuer: | Argus Metals Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 29
|
| Stock symbol: | TSX Venture: AML
|
| Stock price: | C$0.10 at close Jan. 31
|
| Market capitalization: | C$5.99 million
|
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