By Sheri Kasprzak
New York, Nov. 17 - Almaden Minerals Ltd. said it wrapped its previously announced private placement for C$6.29 million.
The company issued 3.7 million units at C$1.70 each.
The units include one share and one warrant. The warrants are exercisable at C$2.10 each for two years.
Almaden may force exercise of the warrants if, any time four months after closing, its stock trades above C$2.75 for more than 20 consecutive trading days.
The offering was first announced Oct. 5 as a C$5.95 million deal composed of up to 3.5 million units under the same terms.
Proceeds will be used for general corporate purposes.
Based in Vancouver, B.C., Almaden is a mineral exploration company.
| Issuer: | Almaden Minerals Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$6.29 million
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| Units: | 3.7 million
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| Price: | C$1.70
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$2.10
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| Pricing date: | Oct. 5
|
| Settlement date: | Nov. 17
|
| Stock price: | C$1.88 at close Oct. 5
|
| Stock price: | C$1.81 at close Nov. 17
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