First Americas increases placement to $510,000 2015-12-15 19:44 ET - News Release
Mr. Anthony Jackson reports
FIRST AMERICAS INCREASES SIZE OF PRIVATE PLACEMENT
First Americas Gold Corp. will increase the size of the previously announced private placement on Dec. 11, 2015, to 3.4 million units for gross proceeds of $510,000. Each unit comprises one common share and one share purchase warrant. Each share purchase warrant entitles the holder to acquire one additional common share for a period of two years at a price of 20 cents.
Proceeds of the placement will be applied to the company's property, potential acquisitions and to general working capital. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law. The offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. The company also announces that it has granted to directors, officers, consultants and management of the company stock options to purchase a total of 500,000 common shares at a price of 25 cents per common share. The options are exercisable for a period of two years ending Dec. 16, 2017, and have been granted in accordance with the terms of the company's current stock option plan. The terms of the company's current stock option plan is subject to approval by the exchange.
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