Non-brokered offering with AM Mining sells 40,639,974 shares at C$0.12
By Devika Patel
Knoxville, Tenn., Oct. 9 – Peruvian Precious Metals Inc. said it will conduct a C$4.88 million non-brokered private placement of stock with AM Mining SAC.
The company will sell 40,639,974 common shares at C$0.12 apiece, a 25% discount to the Oct. 8 closing share price of C$0.16.
The company also said it has negotiated a memorandum of understanding with the investor under which AM Mining will construct and operate a gold and silver processing plant on behalf of the company.
The gold and silver explorer is based in Vancouver, B.C.
Issuer: | Peruvian Precious Metals Inc.
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Issue: | Common stock
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Amount: | C$4,876,797
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Shares: | 40,639,974
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Price: | C$0.12
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Warrants: | No
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Agent: | Non-brokered
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Investor: | AM Mining SAC
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Pricing date: | Oct. 9
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Stock symbol: | TSX Venture: AFM
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Stock price: | C$0.16 at close Oct. 8
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Market capitalization: | C$22.23 million
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