- Altan Rio Minerals (AMO) has announced a non-brokered private placement for gross proceeds of up to C$1.5 million
- The company will issue up to 12,500,000 units priced at $0.12 per unit
- The company anticipates closing the offering in late February
- Altan Rio is a West Australian-focused gold exploration company
- Altan Rio Minerals Limited (AMO) opened trading at $0.115 per share
Altan Rio Minerals (AMO) has announced a non-brokered private placement for gross proceeds of up to C$1.5 million.
The company will issue up to 12,500,000 units priced at $0.12 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.18 for a period of 36 months from closing.
The warrants are subject to an acceleration clause.
The company anticipates closing the offering in late February 2022.
Altan Rio has agreed to pay finder’s fees consisting of a cash payment and broker warrants.
Net proceeds will be used to advance the drilling program at the Southern Cross North Property and for general working capital and administrative expenses.
Altan Rio is a West Australian-focused gold exploration company primarily focused on the Southern Cross Greenstone Belt, a prolific gold-producing region.
Altan Rio Minerals Limited (AMO) opened trading at $0.115 per share.