Euro Pacific sells deal on commercially reasonable best-efforts basis
By Devika Patel
Knoxville, Tenn., Oct. 22 - First Mexican Gold Corp. said it plans a C$1 million private placement of units. The deal will be conducted by Euro Pacific Canada Inc. on a commercially reasonable best-efforts basis.
The company will sell 10 million units of one common share and one half-share warrant at C$0.10 per unit.
Each whole, two-year warrant will be exercisable at C$0.14, a 40% premium to the Oct. 19 closing share price of C$0.10.
Proceeds will be used for a 3,000-meter drill program testing the Diana zone mineralization over a 900-meter strike length as well as the Ann zone over a 400-meter area, plus one hole planned to intercept an area of high chargeability on the Linda zone. Proceeds will also be used for working capital and other general corporate purposes.
First Mexican is a gold exploration company based in Vancouver, B.C.
| Issuer: | First Mexican Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.14
|
| Agent: | Euro Pacific Canada Inc.
|
| Pricing date: | Oct. 22
|
| Stock symbol: | TSX Venture: FMG
|
| Stock price: | C$0.10 at close Oct. 19
|
| Market capitalization: | C$4.19 million
|
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