New Issue: Anaconda Mining orchestrates C$2.5 million private placement of units

By Devika Patel

Knoxville, Tenn., Dec. 18 - Anaconda Mining Inc. said it will raise C$2.5 million in a non-brokered private placement of units.

The company will sell 2,778 units of C$1,000 in secured 12% debentures due Sept. 15, 2013 and 3,409,000 warrants at C$900 per unit. The warrants are exercisable at C$0.22 for 18 months.

Proceeds will be used to facilitate the ongoing upgrade and expansion of the Pine Cove mill and for general working capital.

Anaconda is a mineral resource company in Toronto.

Issuer:	Anaconda Mining Inc.
Issue:	Units of C$1,000 in secured debentures and 3,409,000 warrants
Amount:	C$2.5 million
Units:	2,778
Price:	C$900.00
Warrants:	3,409,000 warrants per unit
Warrant expiration:	18 months
Warrant strike price:	C$0.22
Agent:	Non-brokered
Pricing date:	Dec. 18
Stock symbol:	Toronto: ANX
Stock price:	C$0.17 at close Dec. 17
Market capitalization:	C$15.9 million
Debentures
Maturity:	Sept. 15, 2013
Coupon:	12%
Yield:	12%

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