Deal sells warrants convertible into units of a share and a warrant
By Devika Patel
Knoxville, Tenn., Oct. 6 – Latin American Minerals Inc. said it will conduct a C$1 million non-brokered private placement of special warrants.
The company will sell 100 million special warrants at C$0.01 each. The per-warrant price is identical to the Oct. 5 closing share price.
The special warrants are convertible into units of one common share and one warrant, with each warrant exercisable at C$0.015 for three years. The strike price is a 50% premium to the Oct. 5 closing share price.
Settlement is expected Oct. 15.
The gold explorer is based in Toronto.
Issuer: | Latin American Minerals Inc.
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Issue: | Special warrants convertible into units of one common share and one warrant
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Amount: | C$1 million
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Special warrants: | 100 million
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Price: | C$0.01
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Warrants: | One warrant per unit upon conversion
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Warrant expiration: | Three years
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Warrant strike price: | C$0.015
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Agent: | Non-brokered
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Pricing date: | Oct. 6
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Settlement date: | Oct. 15
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Stock symbol: | TSX Venture: LAT
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Stock price: | C$0.01 at close Oct. 5
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Market capitalization: | C$1.09 million
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