Business
Almaden Minerals Closes Non-Brokered Private Placement
VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM: TSX; AAU: NYSE American) is pleased to an
About this update from Almaden Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM: TSX; AAU: NYSE American) is pleased to announce that it has closed its previously announced non-brokered private placement with the issuance of 3,100,000 units (“Units”) at $0.65 per Unit (the “Offering”). Each Unit consisted of one common share of the Company (a “Common Share”) and one non-transferable Common Share purchase warrant (“Warrant”). Each Warrant allows the holder to purchase one Common Share at a price of $0.90 until August 6, 2023. The Offering was made by way of a private placement to qualified investors in Canada, United States of America and certain other jurisdictions where the Offering could lawfully be made. All securities issued and issuable under the Offering are subject to a four month hold period expiring December 7, 2020 in accordance with applicable securities laws in Canada, and additional restrictions under the laws of the United States and other jurisdictions in which the Offering was made. The Company has agreed to pay finders fees of up to $52,341.25 in cash to arms-length, licensed securities dealers on a portion of the Offering. Almaden intends to use the net proceeds of the Offering to pursue permitting of the Ixtaca project, and for general corporate purposes. About Almaden Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico, subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. Almaden discovered the Ixtaca gold-silver deposit in 2010. On Behalf of the Board of Directors “Morgan Poliquin” Morgan J. Poliquin, Ph.D., P.Eng.President, CEO and DirectorAlmaden Minerals Ltd. Forward-Looking Information Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the intended use of net proceeds of the Offering. These forward-looking statements and information reflec...