First Majestic to raise $6.75-millionIs this a new one or the one anticipated? I can't keep this stuff straight anymore.
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First Majestic to raise $6.75-million for exploration
2005-12-13 14:03 ET - News Release
Mr. Keith Neumeyer reports
CDN$6.75 MILLION PRIVATE PLACEMENT
First Majestic Resource Corp. has arranged a non-brokered private placement offering of $6.75-million, consisting of three million units of the company at a price of $2.25 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant, with a full warrant entitling the holder to purchase one additional common share of the company at an exercise price of $2.60 per warrant share for a period of two years after the closing of the offering.
The financing is fully committed for and final documentation and all subscription funds have been received by the company. The offering is expected to close on or about Dec. 23, 2005.
A finder's fee of 1.5 per cent is payable in respect of this private placement.
The company plans to use the net proceeds of the offering to continue to advance the production and development the La Parrilla silver mine, to continue the exploration program presently under way at Chalchihuites and commence exploration at the Dios Padre and Candamena projects in Mexico.