Anthem United Inc. (TSX-V:AFY) is pleased to announce that the Company has closed, subject to the final approval of the TSX Venture Exchange the second and final tranche of its non-brokered private placement originally announced on May 28, 2015. Under the Final Tranche, Anthem issued 2,565,000 units of the Company at a price of $0.40 per Unit and 3,075,000 common shares in the capital of the Company at a price of $0.35 per Common Share for aggregate gross proceeds of $2,102,250. Each Unit consists of one Common Share and one-half of one common share purchase warrant of the Company. Each Warrant is exercisable for an additional Common Share at an exercise price of $0.50 for a period of five years following the closing date of the Private Placement. With the closing of the Final Tranche, an aggregate total of 10,476,250 Units and 3,361,000 Common Shares have been issued under the Private Placement for total gross proceeds of $5,366,850.
An aggregate cash commission of $166,254, plus an aggregate of 415,635 non-transferable common share purchase warrants is, subject to final TSX-V approval, payable in connection with the Private Placement. Each Finder’s Warrant will be exercisable into one Common Share at an exercise price of $0.50 for a period of five years following their issuance.
All securities issued under the Final Tranche are subject to a four month hold period expiring on November 7, 2015.
The Company expects to use the gross proceeds raised from the Final Tranche of the Private Placement to fund a portion of the consideration for the proposed acquisition of four private Peruvian companies including capital and commissioning of the 350 tonne per day gold processing plant in Chaparra, Arequipa, Peru and for general and operating working capital associated with the Company’s existing operations.
Pursuant to the Transaction terms, the Company has released the initial payment of $500,000 from escrow and has made a payment of US$2.5 million dollars to the vendors satisfying in the full the US$3.0 million Initial Payment.
For more information regarding the Transaction, please see the Company’s press release dated May 28, 2015, which is also available on the Company’s profile on SEDAR at www.sedar.com.
About Anthem United Inc.
Anthem is focused on building a precious metals producing company through the acquisition and development of silver and gold mineral assets. The Company is currently advancing the development, construction and operation of the 350 tonne per day Koricancha Mill in Peru, in which it owns a 75% interest. The Company’s joint venture partner, EMC Green, owns the remaining 25% and is the operator of the Koricancha Mill.
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