By Sheri Kasprzak
Atlanta, Jan. 10 - Wits Basin Precious Minerals Inc. finished a private placement of units for $2,505,000.
The company sold a total of 25,050,000 units at $0.10 each. The units include one share and one half-share warrant.
The whole warrants allow for an additional share at $0.25 through Dec. 31, 2006.
The company sold an additional 16.6 million units from the original offering, which was announced as an $845,000 deal on Dec. 3.
Galileo Asset Management SA was the placement agent in the offering.
Based in Minnetonka, Minn., Wits Basin is a precious metals exploration and development company.
| Issuer: | Wits Basin Precious Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $2,505,000
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| Units: | 25,050,000
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| Price: | $0.10
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Dec. 31, 2006
|
| Warrant strike price: | $0.25
|
| Placement agent: | Galileo Asset Management SA
|
| Announcement date: | Dec. 3
|
| Settlement date: | Jan. 7
|
| Stock price: | $0.36 at close Jan. 7
|
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