New Issue: Abcourt Mines raises C$2.1 million through private placement of units

By Devika Patel

Knoxville, Tenn., Dec. 24 - Abcourt Mines Inc. said it settled a C$2.1 million private placement of units. Northern Securities Inc. was the agent of the best-efforts offering that priced for C$2 million on Dec. 2.

The company sold 9,355,451 flow-through units of one common share and one half-share warrant at C$0.17 per unit. Each whole warrant will be exercisable at C$0.19 for two years.

The company also sold 3,929,962 units of one class B common share and one warrant at C$0.13 per unit. Each two-year warrant will be exercisable at C$0.17.

Proceeds will be used for exploration and general corporate purposes.

Based in Mont-St-Hilaire, Quebec, Abcourt Mines is engaged in exploration work and studies to place its mining properties into production.

Issuer:	Abcourt Mines Inc.
Issue:	Flow-through units of one flow-through common share and one half-share warrant, units of one class B common share and one warrant
Amount:	C$2,101,322
Warrant expiration:	Two years
Agent:	Northern Securities Inc.
Pricing date:	Dec. 2
Settlement date:	Dec. 23
Stock symbol:	TSX Venture: ABI
Stock price:	C$0.17 at close Dec. 1
Market capitalization:	C$9.21 million
Flow-through units
Amount:	C$1,590,427
Units:	9,355,451
Price:	C$0.17
Warrants:	One half-share warrant per unit
Warrant strike price:	C$0.19
Units
Amount:	C$510,895
Units:	3,929,962
Price:	C$0.13
Warrants:	One warrant per unit
Warrant strike price:	C$0.17

© 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.