AVARONE ANNOUNCES PRIVATE PLACEMENT OF UP TO $1.5 MILLION AT 20 CENTS PER UNIT
(firmenpresse) -
AVARONE ANNOUNCES PRIVATE PLACEMENT
OF UP TO $1.5 MILLION AT 20 CENTS PER UNIT
April 11, 2014TSX-V: AVM
Vancouver, B.C., April 11, 2014 Avarone Metals Inc. (TSX-V: AVM) (Frankfurt: W2U; WKN: A0HM01) (the Company) is pleased to announce a non-brokered private placement of up to 7,500,000 flow through units at a price of $0.20 per flow through unit (a Unit) for gross proceeds of up to $1,500,000. Each Unit will consist of one flow-through common share and one-half (1/2) of one non-flow-through common share purchase warrant (Warrant). Each whole Warrant will entitle the holder to purchase one non-flow through common share of the Company at a price of $0.30 for a period of two years from the closing of the private placement.
The Warrants will be subject to an acceleration clause that will require their exercise within 30 calendar days of notice from the Company in the event that the Company's shares as traded on the TSX Venture Exchange close at a price of higher than $0.50 per share for a period of 10 consecutive trading days subsequent to the expiry of the applicable four month hold period. Finders' fees may be payable on a portion of the private placement.
The net proceeds raised from the sale of the flow-through common shares shall be used to fund Canadian exploration expenditures on the Companys Wildnest gold properties in Saskatchewan (as defined in the Income Tax Act (Canada)) and will be renounced in favor of the holders of flow-through shares for the 2014 taxation year. The proceeds to be raised from the exercise of the Warrants shall be used to fund general working capital.
Marc E. Levy, CEO of Avarone, commented, We are very excited to advance the Wildnest project this year with our diamond drill program targeting the initial higher grade gold zone previously identified by Hudbay and Murgor.
The private placement is subject to the acceptance for filing by the TSX Venture Exchange.
On behalf of the Board of Directors,
AVARONE METALS INC.
Marc E. Levy
Marc E. Levy
President & CEO
For more information contact the Company at:
Telephone:(604) 669-9788
Facsimile:(604) 669-9768
AVARONE METALS INC.
Suite 507 - 700 West Pender Street
Vancouver, British Columbia
V6C 1G8
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek Safe Harbor.
Leseranfragen:
Avarone Metals Inc. konzentriert sich auf die Erschließung und Entwicklung von Edelmetallprojekten in Saskatchewan.
Datum: 11.04.2014 - 22:29 Uhr
Sprache: Deutsch
News-ID 329998
Anzahl Zeichen: 2720
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 206 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"AVARONE ANNOUNCES PRIVATE PLACEMENT OF UP TO $1.5 MILLION AT 20 CENTS PER UNIT
"
steht unter der journalistisch-redaktionellen Verantwortung von
Avarone Metals Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
