By Devika Patel
Knoxville, Tenn., July 26 - Aroway Minerals Inc. announced it plans to conduct a C$5 million private placement of units on a commercially reasonable best efforts basis.
The company will sell 20 million flow-through units at C$0.20 apiece. The flow-through units consist of one flow-through common share and one half-share warrant. Each whole warrant will be exercisable at C$0.30 for one year.
The company also will sell 6.25 million units at C$0.16 apiece. The units consist of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.22 for one year.
Byron Securities Ltd. is the lead agent.
Proceeds will be used for exploration and general working capital.
Vancouver, B.C.-based Aroway is a mineral exploration company.
| Issuer: | Aroway Minerals Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Agent: | Byron Securities Ltd. (lead)
|
| Pricing date: | July 26
|
| Stock symbol: | TSX Venture: ARW
|
| Stock price: | C$0.215 at close July 23
|
| Market capitalization: | C$1.46 million
|
|
|
| Flow-through units
|
| Amount: | C$4 million
|
| Units: | 20 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 6.25 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.22
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
