RE: RE: RE: new late Afri-Can Marine investor Au buys 6.25 million shares
2012-08-13 12:27 ET - News Release
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Mr. Quinton George of Au reports
THE AU LIMITED PARTNERSHIP ANNOUNCES HOLDINGS IN AFRI-CAN MARINE MINERALS CORPORATION
The Au LP, of St. Peter Port, Guernsey, in accordance with regulatory requirements, has acquired, in a private placement, 6.25 million units of Afri-Can Marine Minerals Corp. at a price of 16 cents per unit. Each unit comprises one common share of Afri-Can's capital (representing 8.35 per cent of Afri-Can's issued and outstanding common shares) as well as one common share purchase warrant entitling the holder to acquire one additional common share at a price of 20 cents per common share until July 31, 2015.
Further to the private placement, Au directly owns 12.5 million common shares (representing 16.70 per cent of the issued and outstanding common shares) and 12.5 million warrants entitling to acquire 12.5 million common shares. Should Au exercise all its warrants, its holdings would represent 28.62 per cent of the issued and outstanding common shares issued on a partially diluted basis.
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