By Devika Patel
Knoxville, Tenn., Feb. 6 - Amerigo Resources Ltd. said it plans to raise C$10.5 million in a non-brokered private placement of units.
The company will sell 37.5 million units at C$0.28 apiece. Each unit consists of one common share and one warrant.
Each two-year warrant is exercisable at C$0.33 in the first year and at C$0.40 thereafter.
Proceeds will be used to improve Amerigo's financial position.
Amerigo is a copper and molybdenum exploration and production company based in Vancouver, B.C.
Issuer: | Amerigo Resources Ltd.
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Issue: | Units of one common share and one warrant
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Amount: | C$10.5 million
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Units: | 37.5 million
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Price: | C$0.28
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.33 in the first year, C$0.40 thereafter
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Agent: | Non-brokered
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Pricing date: | Feb. 6
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Stock symbol: | Toronto: ARG
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Stock price: | C$0.33 at close Feb. 6
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