Boucherville, Que.-based Altavista Mines (AIA-M) has raised $850,000 from private investors.
The financing consists of the issuance of 772,727 units priced at $1.10 each. A unit consists of one share and one half warrant. Each whole warrant enables its holder to buy an additional share for $1.43 over an 18-month period.
Proceeds will be used to fund upcoming drilling at the Wild Mick property in Zimbabwe (T.N.M., March 10/97), in which the Montreal-based junior is earning a 50% interest from Inmet Mining (IMN-T).
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