Aegean Minerals (AGN-V) closes $1.5 million IPO
www.aegeanmetalsgroup.com
29.7 million
Insiders own 14.5%
$1.8 million cash
Company presentation
aegeanmetalsgroup.com
Fact sheet
aegeanmetalsgroup.com
Aegean Metals closes $1.5-million IPO
Nov 14, 2012 - News Release
Aegean Metals Group Inc. has successfully completed its initial public offering of 10 million units at a price of 15 cents per unit for gross proceeds of $1.5-million.
Each unit consists of one common share of the company and one common share purchase warrant entitling the holder thereof to purchase an additional common share of the company at a price of 25 cents until Nov. 14, 2014.
Haywood Securities Inc. acted as agent for the offering. In connection with the offering, the agent received: 1) a commission equal to 7 per cent of the gross proceeds of the offering, of which $105,000 was paid in cash; and 2) 700,000 agent's options, each agent's option entitling the agent to acquire one agent's unit at a price of 15 cents until Nov. 14, 2014. Each agent's unit consists of one common share of the company and one common share purchase warrant entitling the agent to acquire one common share of the company at a price of 25 cents until Nov. 14, 2014. The agent also received a corporate finance fee of $25,000 and reimbursement for its expenses.
The common shares of the company have been approved for listing on the TSX Venture Exchange and will commence trading on or about Nov. 16, 2012, under the symbol AGN.
The funds raised from the offering will be used by the company to finance the Ergama project, and for administrative expenses and unallocated working capital.
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