Mr. Morgan Poliquin reports
ALMADEN MINERALS LTD. ANNOUNCES UPTO $6.0 MILLION NON-BROKERED PRIVATE PLACEMENT
Almaden Minerals Ltd. is carrying out a non-brokered private placement of up to four million units at $1.50 per unit. Each unit consists of one common share of the company and one-half of one non-transferable common share purchase warrant. Each warrant will allow the holder to purchase one common share of the company at a price of $2 per share for 12 months. A finder's fee is to be paid on a portion of the placement of 5 per cent in cash and 3 per cent in finder's warrants to purchase common shares of the company at a price of $1.50 per common share for 12 months. The private placement, including payment of the finder's fee, is subject to regulatory approval.
Almaden intends to use the proceeds of the private placement to advance its Ixtaca deposit toward the completion of advanced engineering studies, for exploration and for general working capital.
We seek Safe Harbor.
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