Augusta Resource raises C$6 million in private placement of convertible

By Sheri Kasprzak

Atlanta, June 15 - Augusta Resource Corp. said it has raised C$6 million in the private placement of a convertible debenture.

The full details of the debenture could not be determined by press time Wednesday, but the company plans to use the proceeds in connection with its acquisition of the Rosemont Ranch copper deposits in Pima County, Ariz.

The debenture comes with a bonus of 363,363 common shares at C$3.30 each through Oct. 2, 2005.

Based in Vancouver, B.C., Augusta Resource is a diamond and mineral exploration company.

On June 14, when the deal was priced, the company's stock closed down C$0.03 at C$2.66. On Wednesday, the company's stock gained C$0.18 to close at C$2.84.

© 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.