Non-brokered offering funds exploration of projects, working capital
By Devika Patel
Knoxville, Tenn., Dec. 10 - Alto Ventures Ltd. said it plans a non-brokered private placement of units. The deal will raise C$2 million.
The company will sell flow-through units of one flow-through common share and a half-share warrant at C$0.05 apiece. It also will sell units of one common share and a warrant at C$0.05 apiece.
Each whole warrant is exercisable at C$0.10 for one year. The strike price reflects a 122.22% premium to the Dec. 9 closing share price of C$0.045.
Proceeds will be used for exploration on the Coldstream joint venture and the company's Beardmore Geraldton properties in Ontario, the Alcudia project in Quebec and general working capital.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Alto Ventures Ltd.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a warrant
|
| Amount: | C$2 million
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| Price: | C$0.05
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.10
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| Agent: | Non-brokered
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| Pricing date: | Dec. 10
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| Stock symbol: | TSX Venture: ATV
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| Stock price: | C$0.045 at close Dec. 9
|
| Market capitalization: | C$5.42 million
|
|
|
| Flow-through units
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| Warrants: | One half-share warrant per unit
|
|
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| Units
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| Warrants: | One warrant per unit
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