- Altan Rio Minerals (AMO) has closed the first tranche of a non-brokered private placement
- The first tranche raised approximately $927,226 through the sale of 7,726,885 units
- Net proceeds will be used to advance the drilling program at the Southern Cross North Property in Western Australia
- Altan Rio is a West Australian-focused gold exploration company
- Altan Rio Minerals Limited (AMO) opened trading at $0.11 per share
Altan Rio Minerals (AMO) has closed the first tranche of its previously announced non-brokered private placement.
The first tranche raised approximately $927,226 through the sale of 7,726,885 units at a price of C$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.
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 in Western Australia.
Altan Rio Minerals Limited (AMO) opened trading at $0.11 per share.