The Prospector News

Almaden Minerals Ltd. Announces Closing of $5,525,000 Non-Brokered Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article






Almaden Minerals Ltd. (TSX:AMM) (NYSE MKT:AAU) is pleased to announce that it has closed a non-brokered private placement involving the issuance of 4,420,000 units at $1.25 per Unit. Each Unit consists of one common share of the Company and one-half of one non-transferable common share purchase warrant. Each Warrant allows the holder to purchase one common share of the Company at a price of $2.00 per share until February 11, 2016. Fees consisting of $212,626 in cash and warrants to purchase up to 49,410 common shares at a price of $1.28 per common share until February 11, 2016 were paid to finders on a portion of the placement.



Duane Poliquin, Chairman of the Board of the Company, as to 120,000 Units, Ernesto Echavarria, a greater than 10% shareholder of the Company, as to 320,000 Units, and Douglas McDonald, a senior officer of the Company, as to 14,000 Units, acquired Units under the private placement. Such participation in the private placement is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units issued to, nor the consideration paid by, such persons exceeds 25% of the Company’s market capitalization.



Almaden intends to use the proceeds of the private placement to advance its Ixtaca deposit towards the completion of a pre-feasibility engineering study and for general working capital.



Morgan Poliquin, President of Almaden, states, “This financing bolsters Almaden’s existing cash position and positions us to execute with confidence on our key plans for this year, namely execution of the corporate spin-out announced late last year and the completion of a Pre-Feasibility study on our Ixtaca project. We look forward to providing updates to shareholders in the coming months as these developments move forward.”



About Almaden


Almaden is a well-financed mineral exploration company working in North America. The Company has assembled mineral exploration projects, including the Ixtaca deposit through its grassroots exploration efforts. Almaden’s business model is to provide shareholders with opportunities for capital gain by using its technical expertise to find, acquire and develop mineral properties. The Company intends to expand this business model, described by some as prospect generation, by more aggressively exploring and developing several of its projects including the Ixtaca deposit.


Posted February 12, 2015

Share this news article


Libero Options the Esperanza Porphyry Copper-Gold Project - Drilling Includes 232 Metres of 1% Cueq from Surface

Libero Copper & Gold Corporation (TSX-V: LBC) (OTCQB: LBCMF) ... READ MORE

January 26, 2021

Goldshore Resources to Acquire Moss Lake Gold Project from Wesdome Gold Mines Ltd., Creating New Canadian Gold Development Company

Goldshore to Complete Concurrent $25 Million Equity Financing &am... READ MORE

January 26, 2021

Group Eleven Intersects Up To 8.7% Zinc and 3.3% Lead (12.0% combined) in Step-Out Drilling at Stonepark, Ireland

Group Eleven Resources Corp. (TSX-V: ZNG) (OTC: GRLVF) (FRA: 3GE)... READ MORE

January 26, 2021


SRG Mining Inc. (TSX-V: SRG) is pleased to announce that i... READ MORE

January 26, 2021

Pucara Gold Reports on its First Drill Campaign at Lourdes Gold Project in Peru

Highlights Drilling results confirmed presence of gold mineraliza... READ MORE

January 26, 2021

Copyright 2021 The Prospector News