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Anconia Resources Corp Closes Second Tranche of Private Placement for $614,288


Thursday, 5 Sep 2013 04:05pm EDT 

Anconia Resources Corp announced the closing of a second tranche of its previously announced non-brokered private placement offering (the Offering). On closing of the second tranche, Anconia issued 65,000 units (Units) at $0.10 per Unit and 4,577,400 flow-through units (Flow-Through Units) at $0.12 per Flow-Through Unit, for aggregate gross proceeds of $614,288. Together with the first tranche which closed on August 27, 2013, Anconia has raised gross proceeds of approximately $1.4 million pursuant to the Offering. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole Unit Warrant entitles the holder to purchase one common share of the Company at a price of $0.14 per share for a period of 18 months following the date of issuance. Each Flow-Through Unit consists of one common share of the Company issued on a 'flow-though' basis and one-half of one common share purchase warrant. Each whole FT Warrant entitles the holder to purchase one common share of the Company at a price of $0.16 per share for a period of 18 months following the date of issuance. The aggregate proceeds raised under the Offering will be used, among other things, to conduct exploration on the Company's properties and for working capital purposes. Proceeds from the sale of the Flow-Through Units will be used for Canadian Exploration Expenses on the Company's properties. The Company intends to close a third tranche of the Offering later in September. 

Company Quote

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27 Oct 2014