Afri-Can Marine Minerals Corp. has raised $1,990,613, since Nov. 30, 2009, from the exercise of 12,935,750 share purchase warrants expiring on Feb. 25, 2010, 100,000 share purchase warrants expiring on Jan. 26, 2011, and 235,000 share purchase warrants expiring on May 6, 2011. The share purchase warrants were exercised at a price of 15 cents each, and the number of Afri-Can common shares outstanding has increased from 163,666,234 on Nov. 30, 2009, to 176,812,484.
The proceeds will be used for exploration and development of Afri-Can’s 70-per-cent-owned Block J marine diamond concession in Namibia.
