By Devika Patel
Knoxville, Tenn., Aug. 19 - Latin American Minerals Inc. settled a private placement of units for C$4.01 million. The deal priced for C$3 million with a C$1.5 million greenshoe on July 29.
The company sold 13,378,001 units at C$0.30 each. Of the units sold, 10 million were sold on a bought-deal basis. The remainder was part of the partially exercised greenshoe.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.50 for 18 months.
Dundee Securities Corp. and PowerOne Capital Markets Ltd. were the underwriters.
Proceeds will be used for working capital and general corporate purposes.
Latin American Minerals is a Toronto-based mineral exploration company.
| Issuer: | Latin American Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4,013,400.30 (includes C$1,013,400.30 greenshoe)
|
| Units: | 13,378,001
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Underwriters: | Dundee Securities Corp. and PowerOne Capital Markets Ltd.
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 19
|
| Stock symbol: | TSX Venture: LAT
|
| Stock price: | C$0.315 at close July 28
|
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