Mr. Gregory McKelvey reports
ANIMAS RESOURCES CLOSES $1.7 MILLION FINANCING
Animas Resources Ltd. oversubscribed its non-brokered private placement and closed it for gross proceeds of $1.7-million.
Theprivate placement of 4,857,141 units at 35 cents per unit has beenapproved by the TSX Venture Exchange. Each unit is comprised of onecommon share and one-half of one non-transferable warrant. Each wholewarrant entitles the holder to purchase one additional common share for aperiod of 24 months at a price of 55 cents per common share.
Inaddition, finders' warrants, entitling the holder to purchase up to286,248 units for a period of 24 months from issue at 35 cents per unitand cash finders' fees of $100,187 are paid. All securities issued aresubject to a four-month hold period expiring on March 4, 2011.
Insiders invested $539,750 in this placement.