07:24:18 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



AM Gold Inc (2)
Symbol AMG
Shares Issued 8,119,784
Close 2014-04-22 C$ 0.08
Market Cap C$ 649,583
Recent Sedar Documents

AM Gold increases financing to $367,500

2014-04-24 12:26 ET - News Release

Mr. Murray Caruth reports

AM GOLD ANNOUNCES REVISED TERMS OF PRIVATE PLACEMENT AND CORPORATE UPDATE

Further to its news release of March 20, 2014, AM Gold Inc. has revised the terms of the private placement. The company will now proceed with a non-brokered private placement for gross proceeds of up to $367,500. The offering will consist of flow-through common shares of the company at a price of 5.25 cents per FT share. As a separate subscription, the offering will also consist of non-flow-through common shares of the company at a price of 5.25 cents per NFT share. The number of FT shares and NFT shares will be determined by management prior to closing of the offering.

The securities will be made available by way of prospectus exemptions in Canada and in such other jurisdictions as the company may agree where the securities can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

The company may pay a finder's fee on the offering within the amount permitted by the policies of the TSX Venture Exchange. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the exchange. The securities will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds from the NFT shares will be used by the company for general corporate purposes, and may be directed to the company's mineral projects in such amounts determined by management. The gross proceeds from the FT shares will be used for exploration expenditures, eligible for flow-through share treatment under the Income Tax Act (Canada).

The company expects that its chief executive officer, or his joint actor, will participate in the offering. The participation in the offering by a director or officer of the company will constitute a related party transaction under Multilateral Instrument 61-101 -- protection of minority security holders in special transactions. However, the company expects that it will be exempt from both the formal valuation and minority shareholder approval requirements of MI 61-101 in connection with the offering because neither the fair market value of the securities to be issued, nor the consideration for the securities, is expected to exceed 25 per cent of the company's market capitalization as calculated in accordance with MI 61-601.

Corporate update

Separately, the company announces that pursuant to the terms of the option and joint venture agreement, as amended, with Rokmaster Resources Corp., that a $125,000 payment is due and payable by Rokmaster to AM Gold on or before May 1, 2014.

We seek Safe Harbor.

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