By Sheri Kasprzak
New York, Oct. 18 - First Majestic Resource Corp. said it plans to raise C$5,691,292 in a private placement of units.
The offering consists of 3,076,374 units at C$1.85 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$2.25 each for two years.
The non-brokered offering is scheduled to close Oct. 20 and the proceeds will be used for production and development at the La Parrilla silver mine and for exploration at the Candamena, Dios Padre and Chalchihuites properties Mexico.
Based in Vancouver, B.C., First Majestic is a mineral exploration company.
| Issuer: | First Majestic Resource Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,691,292
|
| Units: | 3,076,374
|
| Price: | C$1.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.25
|
| Placement agent: | Non-brokered
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 20
|
| Stock price: | C$2.27 at close Oct. 17
|
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