Bought deal closed. I wonder if we will see some selling/weakness in the coming days....
EDMONTON, ALBERTA--(Marketwired - Jan. 14, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES.
Athabasca Minerals Inc. (the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is pleased to announce the closing of its previously announced bought deal private placement offering (the "Offering") of units of the Corporation ("Units") with Primary Capital Inc. ("Primary") acting as underwriter. Pursuant to the Offering, including the full exercise of the over-allotment option granted to Primary, the Corporation issued 3,965,517 Units at a price of $1.45 per Unit, for aggregate gross proceeds of $5,750,000.
Each Unit consists of one common share in the capital of the Corporation (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one Common Share at a price of $1.75 per share for a period of two years from the date of the closing of the Offering.
The net proceeds raised from the Offering are expected to be used for upcoming capital expenditures on new and existing assets, as well as potential growth initiatives and general working capital purposes. Growth initiatives include future drilling and resource development at the Corporation's Richardson Project as well as the development of the Firebag Silica Project.
Primary was paid a cash commission equal to 6% of the aggregate gross proceeds of the Offering and was granted 237,931 options (the "Agent's Options"), with each such Agent's Option entitling the holder to acquire one Common Share at a price of $1.45 per share for a period of two years from the date of the closing of the Offering.
Pursuant to applicable securities laws, all securities issued pursuant to the Offering will be subject to a statutory hold period which expires on May 15, 2014.
Read more at https://www.stockhouse.com/news/press-releases/2014/01/14/athabasca-announces-closing-of-bought-deal-private-placement-for-aggregate#ohrklkG88aezZgzU.99