Business
Coniagas closes $3.08 million of $4.125 million financing
TORONTO, June 1 /CNW/ - Coniagas Resources Limited (the "Company") (TSX-V: CNY) is pleased to ann...
About this update from American Lithium Corp.
[{"type":"text","content":"\n\n\n\nTORONTO, June 1 /CNW/ - Coniagas Resources Limited (the "Company")\n(TSX-V: CNY) is pleased to announce that it has closed a majority of its\npreviously announced private placement financing through the issuance of\n3,076,922 flow-through units at a price of $0.65 per flow-through unit and\n2,160,000 non flow-through units of the Company at a price of $0.50 per non\nflow-through unit for gross proceeds of $3.08 million (the "Offering"). Each\nflow-through unit is comprised of one flow-through common share and one-half\nof one warrant, with each whole warrant exercisable into a non flow-through\ncommon share for a period of one year at an exercise price of $0.85. Each non\nflow-through unit is comprised of one non flow-through common share and one\nwarrant, with each warrant exercisable into a non flow-through common share\nfor a period of one year at an exercise price of $0.75. The Company expects to\nclose the balance of the $1.045 million, consisting of 2,090,000 non-flow\nthrough units, on June 2, 2009.\n\n\nIn connection with the Offering, the Company paid a finder's fee of\n$174,000 and issued an aggregate of 341,385 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 raised from the sale of the flow-though units will be used\nfor Canadian Exploration Expenses (within the meaning of the Income Tax Act\n(Canada)) related to the exploration programs of the Company. The remaining\nproceeds of the Offering will be used for exploration work on the Company's\nmineral properties and for general working capital.\n\n\nThe securities issued pursuant to the Offering are subject to a hold\nperiod that will expire on September 30, 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 sta...