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Athabasca Minerals Inc announces $5 mln bought deal financing


Tuesday, 17 Dec 2013 04:20pm EST 

Athabasca Minerals Inc:Engages Primary Capital Inc. Primary to act as underwriter on a financing for the Corporation to raise C$5,000,000 through the completion of a private placement on a bought deal basis.Says Offering will be of 3,448,276 units of the Corporation at a price of C$1.45 per Unit.Says it will also grant Primary an option, exercisable at any time on or before the second business day prior to the closing date, to increase the size of the Offering by up to an additional 15%, for additional gross proceeds to the Corporation of up to C$750,000.Says each Unit will consist of one common share in the capital of the Corporation and one-half of one common share purchase warrant.Says each whole Warrant will entitle the holder thereof to acquire one Common Share at a price of $1.75 for a period of two years from the date of the closing of the Offering.Says net proceeds raised from the Offering are planned to be used for upcoming capital expenditures on the Corporation's Firebag frac sand project and associated transloading facility, new and existing aggregate assets including gravel inventory and equipment, and general working capital purposes. 

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1.27
-0.07 -5.22%
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