Funds used to advance Ixtaca gold-silver deposit, for working capital
By Devika Patel
Knoxville, Tenn., July 18 - Almaden Minerals Ltd. said it completed a C$5.47 million non-brokered private placement of units.
The company sold 4,376,000 units of one common share and one warrant at C$1.25 per unit. The warrants are each exercisable at C$1.50 until Jan. 17, 2015 and at C$1.80 until July 17, 2016.
The strike prices are a respective 4.46% discount and a 14.65% premium to the July 16 closing share price of C$1.57.
Duane Poliquin invested C$50,000, Gerald Carlson invested C$20,000 and Mark Brown invested C$25,000 through his private company, Pacific Opportunity Capital Ltd.
Proceeds will be used to advance the Ixtaca gold-silver deposit towards the completion of advanced engineering studies and for general working capital.
Based in Vancouver, B.C., Almaden is a copper and gold explorer.
| Issuer: | Almaden Minerals Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5.47 million
|
| Units: | 4,376,000
|
| Price: | C$1.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 17, 2016
|
| Warrant strike price: | C$1.50 until Jan. 17, 2015, C$1.80 until July 17, 2016
|
| Agent: | Non-brokered
|
| Investors: | Duane Poliquin (for C$50,000), Gerald Carlson (for C$20,000) and Pacific Opportunity Capital Ltd. (for C$25,000)
|
| Settlement date: | July 17
|
| Stock symbol: | Toronto: AMM
|
| Stock price: | C$1.57 at close July 16
|
| Market capitalization: | C$90.18 million
|
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