Suche
 
Folgen Sie uns auf:

Avalon Rare Metals Inc. Announces US$4million Registered Direct Offering

11.06.2014  |  ABN Newswire
Toronto, Canada (ABN Newswire) - Avalon Rare Metals Inc. (TSE:AVL) (NYSEMKT:AVL) ("Avalon" or the "Company") is pleased to announce that it has entered into a definitive agreement with an institutional investor pursuant to which the investor will purchase 9,237,875 units of the Company at a price of US$0.433 per unit (the "Offering"). Each unit will be comprised of a common share and 0.70 of a common share purchase warrant. Each whole warrant is exercisable into a common share of the Company at an exercise price of US$0.56 per share commencing six months following issuance, and has a term of exercise of six and a half years from the initial exercise date and is subject to certain anti-dilution provisions. The Offering is being made outside of Canada and no offer or sale is being made in Canada or to a Canadian resident.


The gross proceeds of the Offering will be approximately US$4,000,000. Net proceeds, after deducting the placement agent's fee and other estimated offering expenses payable by Avalon, are expected to be approximately US$3,560,000.

Avalon plans to use the net proceeds from the offering for general corporate purposes, including funding ongoing operations and/or capital requirements, and discretionary capital programs.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the transaction, and will be paid a cash fee equal to 6% of the aggregate gross proceeds from the sale of the Units and will be issued 554,273 agent warrants. Each agent warrant is exercisable into one common share of the Company at an exercise price of US$0.56 per share commencing six months following issuance, and has a term of two and a half years from the initial exercise date.

The offering is expected to close on or before June 17, 2014, subject to customary closing conditions, including the conditional approval of the Toronto Stock Exchange and the NYSE MKT.

The offering is being made pursuant to a Canadian base shelf prospectus dated September 13, 2013 and a shelf registration statement filed with the United States Securities and Exchange Commission (the "SEC"), File No. 333-190771, which was declared effective by the SEC on September 12, 2013. A prospectus supplement relating to the Offering has been filed with the applicable provinces and territories in Canada and is available on SEDAR at: http://www.sedar.com and will be filed with the SEC and will be available at the SEC's website: http://www.sec.gov

The prospectus supplement and related base shelf prospectus are also available from H.C. Wainwright & Co. LLC by emailing: placements@hcwco.com.

These securities are not being offered for sale in Canada. This press release shall not constitute an offer to sell or solicitation of an offer to buy these securities, and these securities may not be offered or sold in any jurisdiction in which their offer or sale would be unlawful.


About Avalon Rare Metals Inc.:

Avalon Rare Metals Inc. (TSE:AVL) (NYSE-MKT:AVL) is a mineral development company focused on rare metal deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT is exceptional in its large size and enrichment in the scarce 'heavy' rare earth elements, key to enabling advances in clean technology and other growing high-tech applications. With a positive feasibility study and environmental assessment completed, Nechalacho remains the most advanced potential large new source of heavy rare earths in the world outside of China, currently the source of over 95% of the world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones.



Contact:

Avalon Rare Metals Inc.
Communications and Investor Relations
Ron Malashewski, Manager
T: +1-416-364-4938
F: +1-416-364-5162
E: rmalashewski@avalonraremetals.com
www.avalonraremetals.com
Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Avalon Advanced Materials Inc.
Bergbau
A3CMVB
CA05337L3048
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"