- AM Resources Corporation (AMR) has closed the first tranche of a non-brokered private placement for gross proceeds of $869,500
- The company issued 17,390,000 units at a price of $0.05 per unit
- Each unit consists of one common share of the corporation and one warrant
- Each warrant entitles the holder to acquire one common share of the corporation at a price of $0.075 for a period of 24 months following the closing of the offering
- The proceeds of the offering will be used primarily for working capital purposes
- AM Resources Corporation is a mining exploration company with interests in coal and natural bitumen projects in Colombia
- AM Resources Corp. last traded at $0.065 at 2:34 PM ET
AM Resources Corporation (AMR) has closed the first tranche of its non-brokered private placement for gross proceeds of $869,500.
The company issued 17,390,000 units priced at $0.05 per unit.
Each unit consists of one common share of the corporation and one warrant. Each warrant entitles the holder to acquire one common share of the corporation at a price of $0.075 for a period of 24 months following the closing of the offering.
In connection with this tranche, the corporation paid certain finders fees totalling $18,000 in cash and issued 36,000 warrants. Each warrant entitles the holder to acquire one additional share at a price of $0.075 over a period of 24 months from the closing.
The proceeds of the offering will be used primarily for working capital purposes.
All securities issued are subject to a four-month hold period, ending on August 7, 2022.
AM Resources Corporation is a mining exploration company with interests in coal and natural bitumen projects in Colombia.
AM Resources Corp. last traded at $0.065 at 2:34 PM ET.