By Sheri Kasprzak
Atlanta, Nov. 19 - Afcan Mining has wrapped up a non-brokered C$10.4 million private placement, weeks after the company announced it would not proceed with a C$12 million offering.
The company sold 41,732,117 units of one share and one half-share warrant per at C$0.25.
Each whole warrant allows for the purchase of an additional share at C$0.375 for two years.
The current closing is the first of two and involves 12.28 million units for C$3.07 million. The second closing is expected to happen in mid-December.
On Nov. 3, the company announced that it would not proceed with a C$12 million private placement. The deal was originally announced in September as a C$11 million offering of 43,925,000 units of one share and one half-share warrant for C$0.25.
Based in Toronto, Afcan is a gold mining company focused on projects in China. The company will use the proceeds from the financing for the construction of its Tanjianshan gold project in China.
| Issuer: | Afcan Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10.4 million
|
| Shares: | 41,732,117 units
|
| Price: | C$0.25 per unit
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.375
|
| Settlement date: | Nov. 19
|
| Stock price: | C$0.28 at close Nov. 18
|
|
|
© 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.
