Vancouver — Investor demand has prompted
The original, $1.2 million non-brokered private placement consisted of 1.5 million units priced at 80 each. A full unit consisted of one share, and one warrant exercisable at $1 for two years. The newly amended, $2.6-million financing includes 2.9 million units priced at 90 each. A unit consists of one share and half a warrant. A full warrant allows the holder to buy a share in the company for $1.10 over the course of a year.
IMA insiders will pick up a $1.2-million portion of the deal, and First Associates Investments will have the remaining $1.4 million in a brokered private placement. The shares are subject to a holding period of four months.
The junior holds 37 gold and silver projects in Argentina and Peru.
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