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Anaconda Mining Completes $4.69 Million Private Placement

Published: 07/10/2019

Team: Paul M. Stein, Alexander Pizale, James Lyle, Pamela Hojilla, Christopher B. Norton

On July 10, 2019, Anaconda Mining Inc. completed a non-brokered private placement of 7,515,701 flow-through units at a price of $0.35 per FT unit, and 7,630,185 units at a price of $0.27 per unit, for aggregate gross proceeds of up to $4.69 million. 

Each FT unit will consist of one common share, which qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada), and one-half of one common share purchase warrant. Each unit will consist of one common share and one-half of one warrant. Each warrant will entitle the holder thereof to purchase one common share of Anaconda at a price of $0.45 for a period of 18 months following the closing date. 

Cassels Brock acted for Anaconda with a deal team that included Paul Stein, Alexander Pizale, James Lyle and Pamela Hojilla (Securities and Mining) and Chris Norton (Tax).