Coniagas closes balance of $4.125 million financing

About this update from American Lithium Corp.

[{"type":"text","content":"\n\n\n\nTORONTO, June 11 /CNW/ - Coniagas Resources Limited (the "Company")\n(TSX-V: CNY) is pleased to announce it has closed the final $1.045 million of\nits total $4.125 million private placement financing (the "Offering"). An\nadditional 2,090,000 units (the "Units") of the Company were issued at a price\nof $0.50 per Unit. Each Unit is comprised of one common share and one warrant,\nwith each warrant exercisable into a common share for a period of one year at\nan exercise price of $0.75.\n\n\nIn connection with the Offering, the Company paid a finder's fee of\n$62,700 and issued an aggregate of 146,300 warrants, each of which is\nexercisable to purchase one common share of the Company at a price of $0.75\nper share for a period of one year.\n\n\nThe proceeds of the Offering will be used for exploration work on the\nCompany's mineral properties and for general working capital. The proceeds\nraised from the sale of the flow-though units that were issued on June 1, 2009\nwill be used for Canadian Exploration Expenses (within the meaning of the\nIncome Tax Act (Canada)) related to the exploration programs of the Company.\n\n\nThe securities issued pursuant to the Offering are subject to a hold\nperiod that will expire on October 11, 2009. The Offering remains subject to\nthe final approval of the TSX Venture Exchange.\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nThis news release may contain forward-looking statements including but\nnot limited to comments regarding the timing and content of upcoming work\nprograms, geological interpretations, receipt of property titles, potential\nmineral recovery processes, etc. Forward-looking statements address future\nevents and conditions and therefore, involve inherent risks and uncertainties.\nActual results may differ materially from those currently anticipated in such\nstatements.\n\n\n","length":2140,"tagName":"div"}]

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