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Aztec Minerals Upsizes Bought Deal Private Placement to CA$5.6 Million

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Aztec Minerals (AZT.V) increased the size of its "bought deal" private placement offering to CA$5.6 million from CA$5 million, it said in a statement on Thursday.

The underwriter of the offering agreed to buy on a bought deal basis, 17.4-million units at CA$0.32 apiece, it said. Each unit will be comprised of one share and one-half of one two-year warrant, with each warrant entitling the holder to buy a share for CA$0.42 apiece.

Proceeds will be used to conduct exploration work on its Tombstone gold-silver & CRD silver-lead-zinc-copper-gold project in Arizona, US, and its Cervantes gold-copper project in Sonora, Mexico, as well as for general working capital needs, it added.

Shares of the company were last seen down 2.8% at CA$0.35 on the TSX Venture Exchange.

Price: $0.35, Change: $-0.01, Percent Change: -2.78%

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