By Sheri Kasprzak
New York, Sept. 8 - Neo Alliance Minerals Inc. intends to raise up to C$3 million in a private placement.
The non-brokered offering includes up to 6 million units of one share and one half-share warrant.
The whole warrants are exercisable at C$0.65 each for 18 months. The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$0.75 for more than 10 trading days.
The offering is scheduled to close Oct. 9.
The company may conduct another C$2 million private placement in the future.
The proceeds from this deal will be used for exploration on the Majiahe and Xuefeng properties as well as for the acquisition of gold properties in China.
Located in Edmonton, Alta., Neo Alliance is a gold exploration company focused on properties in China.
| Issuer: | Neo Alliance Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 6 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Placement agent: | Non-brokered
|
| Pricing date: | Sept. 8
|
| Settlement date: | Oct. 9
|
| Stock symbol: | TSX Venture: NAM
|
| Stock price: | C$0.58 at close Sept. 8
|
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