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).