07:46:12 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Arena Minerals Inc
Symbol AN
Shares Issued 86,621,090
Close 2018-08-16 C$ 0.065
Market Cap C$ 5,630,371
Recent Sedar Documents

Arena Minerals increases private placement to $2.3M

2018-08-17 13:38 ET - News Release

Mr. William Randall reports

ARENA MINERALS ANNOUNCES UPSIZING OF PRIVATE PLACEMENT FINANCING

Arena Minerals Inc. has increased its private placement from $2-million to $2.3-million.

The company now intends to complete a private placement financing of units at a price of five cents per unit for gross proceeds of $2.3-million. Each unit shall consist of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at 10 cents for a period of 36 months from the date of issuance.

The company intends to use the net proceeds of the offering to finance potential future property acquisitions, continue the development of its Atacama copper property located in the Antofagasta region of northern Chile and for general corporate purposes. The company may, subject to additional interest received, increase the size of the private placement.

The common shares, warrants and shares underlying the warrants will be subject to a four-month statutory hold period from the closing of the private placement. Closing of the transaction remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.

About Arena Minerals Inc.

Arena Minerals owns 80 per cent of the Atacama copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district. The technical and scientific aspects of this news release have been reviewed and approved by Vernon Arseneau, PGeo, who is a qualified person pursuant to National Instrument 43-101. As the vice-president of exploration of the company, Mr. Arseneau is not considered independent.

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