Key points
- The private placement totals $550,000, which has already been committed.
- It consists of a maximum of 2.2 million units priced at 25 cents per unit, each comprising one share and one-half of one non-transferable warrant.
- Each full warrant entitles the holder to purchase one common share at 30 cents on or before three years from the closing date.
- The placement is subject to regulatory approval, and proceeds will be used to further the corporation’s development.
Afri-Can Marine Minerals will proceed with private placement agreements totalling $550,000, which has already been committed.
The private placement will consist of a maximum of 2.2 million units priced at 25 cents per unit. Each unit consists of one share and one-half of one non-transferable warrant. Each full warrant will entitle the holder to purchase one common share at 30 cents on or prior to three years from the date of closing. The placement is subject to regulatory approval.
Proceeds from the private placement will be used to further the development of the corporation.
