By Sheri Kasprzak
New York, Nov. 28 - Ashton Mining of Canada Inc. said it intends to raise up to C$4,498,000 in a private placement.
The offering includes up to 3.46 million flow-through shares at C$1.30 each.
A syndicate of placement agents led by Canaccord Capital Corp. and including Dundee Securities Corp. will place the deal, which is expected to wrap up on Dec. 20.
Proceeds will be used for exploration on the company's diamond projects in Quebec and elsewhere in Canada.
Based in Vancouver, B.C., Ashton is a diamond acquisition and exploration company.
| Issuer: | Ashton Mining of Canada Inc.
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| Issue: | Flow-through shares
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| Amount: | C$4,498,000 (maximum)
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| Shares: | 3.46 million (maximum)
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| Price: | C$1.30
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| Warrants: | No
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| Placement agents: | Canaccord Capital Corp. (lead); Dundee Securities Corp.
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 20
|
| Stock price: | C$1.11 at close Nov. 24
|
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