- Akwaaba Mining (AML) announced amendments to its non-brokered private placement
- Each unit will now consist of one common share and one-half common share purchase warrant
- Only whole common share purchase warrants will be exercisable
- Akwaaba Mining (formerly Castle Peak Mining Ltd) is a Canadian-based exploration company
- Akwaaba Mining Ltd. (AML) opened trading at $$0.015 per share
Akwaaba Mining (AML) announced amendments to its previously announced non-brokered private placement.
In February, the company announced that it would issue up to 14,000,000 units at $0.015 per unit for gross proceeds of CAD $210,000. Each unit was to consist of one common share and one common share purchase warrant. Each warrant was to entitle the holder to acquire one common share at $0.0225 for a period of 5 years after the closing date.
The company is amending the terms of the offering. Each unit will now consist of one common share and one-half common share purchase warrant. Each whole common share purchase warrant will entitle the holder to acquire one additional common share at $0.05 for 5 years after the closing. Only whole common share purchase warrants will be exercisable.
Akwaaba Mining will use the proceeds to fund the ongoing exploration program at the company’s Akorade project in Ghana for working capital and for future acquisitions.
All securities issued will be subject to a statutory hold period of four months.
About Akwaaba Mining
Akwaaba Mining (formerly Castle Peak Mining Ltd) is a Canadian-based exploration company. It focuses on advancing greenfields and early-stage gold projects.
The company operates through the segment of acquisition, exploration and evaluation of exploration and evaluation assets in Ghana. The company holds an interest in the Akorade Project Gold Properties, located in southwest Ghana, in the southern portion of the Ashanti gold belt.
Akwaaba Mining Ltd. (AML) opened trading at $$0.015 per share.