By Devika Patel
Knoxville, Tenn., March 11 - Azteca Gold Corp. announced a C$2.5 million non-brokered private placement of units.
The company will sell 12.5 million units at C$0.20 per unit. Each unit consists of one share and one warrant. Each warrant will be exercisable at C$0.35 for two years.
Proceeds will be used for drilling and assaying expenses at the company's Two Mile project as well as for general corporate purposes.
Spokane, Wash.-based Azteca Gold is a mineral exploration company focused mainly on exploring for gold and silver in Mexico and the United States.
| Issuer: | Azteca Gold Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | March 11
|
| Stock symbol: | TSX Venture: AZG
|
| Stock price: | C$0.14 at close March 10
|
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