By Devika Patel
Knoxville, Tenn., Nov. 3 - Apoquindo Minerals Inc. said it took in C$2.66 million in a non-brokered private placement of units. The deal priced for C$5 million Oct. 10.
The company sold 5,312,650 units of one common share and one half-share warrant at C$0.50 apiece. It had planned to sell 10 million units.
The whole two-year warrants are exercisable at C$0.75 for the first year and at C$1.00 thereafter.
The warrants may expire sooner if the company's shares close at C$1.25 or higher for 20 consecutive trading days in the first year or at C$1.50 for 20 consecutive trading days in the second year. In that case, the warrants will expire 30 days after the company notifies holders.
Proceeds will be used to fund exploration programs on Apoquindo's mineral properties and for general working capital purposes.
Vancouver, B.C.-based Apoquindo is junior natural resources company.
Issuer: | Apoquindo Minerals Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2,656,325
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Units: | 5,312,650
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Price: | C$0.50
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.75 in the first year, C$1.00 thereafter
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Agent: | Non-brokered
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Pricing date: | Oct. 10
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Settlement date: | Nov. 3
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Stock symbol: | TSX Venture: AQM
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Stock price: | C$0.60 at close Oct. 9
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