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Andean American arranges $15.03-million bought deal 2010-10-22 13:47 ET - News Release Mr. David Rae reports ANDEAN AMERICAN ANNOUNCES CDN$15 MILLION BOUGHT DEAL FINANCING; FUNDS TO BE USED PRIMARILY FOR ADVANCING ANDEAN'S GOLD-SILVER-COPPER PROJECT IN PERU Andean American Gold Corp. has entered into an agreement with a syndicate of underwriters, led by Haywood Securities Inc. and including Octagon Capital Corp., pursuant to which the underwriters have agreed to purchase, on a bought-deal basis, 16.7 million common shares of the company at a price of 90 cents per common share, for gross proceeds of $15.03-million. In addition, the company will grant the underwriters an overallotment option, exercisable up to 24 hours prior to the closing of the underwritten offering, to purchase up to an additional 5.5 million common shares at 90 cents to raise additional gross proceeds of up to $4.95-million. The company intends to use the proceeds primarily for advancing its Invicta gold project in Peru, as well as for general corporate purposes. The offering is scheduled to close on or about Nov. 12, 2010, and is subject to certain conditions, including but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. "The majority of the funds raised through this bought deal will be used to advance our Invicta project, a gold, silver and copper project. As mentioned in the [Stockwatch] press release of Oct. 12, 2010, the company has retained SRK to upgrade the feasibility study completed in July this year and anticipates completion in second quarter 2011. Negotiations with the local communities are advancing, and orders for long-lead items have already been placed. We are focused on bringing this project into production as soon as possible so that the company and its shareholders can benefit from the strong demand for our commodities," said David Rae, president of Andean American Gold Corp. The common shares issued in connection with this offering will be subject to a four-month hold period from the closing date, as prescribed by the TSX Venture Exchange and applicable Canadian securities laws. For further information, please visit the company's website. .....und das Beste, alles ohne Warrants!!!! bs |
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| aus der Diskussion: | Andean nun mit neuem Namen ! |
| Autor (Datum des Eintrages): | boersensoldat (24.10.10 21:47:06) |
| Beitrag: | 18 von 40 (ID:40381388) |
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