Americore Resources Launches "Best Efforts" Private Placement of Units Worth Up to C$3 Million
Americore Resources (AMCO.V) is launching a "best efforts" private placement of a minimum of 2.7 million units up to 8.1 million units at a price of C$0.37 per unit for total proceeds of $1 million to $3 million, the company said late on Monday.Each unit will be composed of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of $0.50 per warrant share for a period of 36 months following the completion of the offering.The company has entered into an engagement letter with Canaccord Genuity as the lead agent for the offering.Net proceeds will be used by Americore to advance its Trinity silver project in Nevada, as well as for general working capital and corporate purposes.The offering is expected to close on or about June 30, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals and TSX Venture Exchange approval.
