children of an idle brain

Kinda tight market for junior funding still…..

…unless of course you have friends in the Canuck houses. Take for example the case of Azteca Gold (AZG.v), a tinycap explorer trying to raise capital in order to explore its projects. Here’s how the funding round started on August 13th:

Private placement

The Company will undertake a non-brokered private placement of up to $1,500,000 by the issuance of up to 30,000,000 units, subject to regulatory approval.
Each unit is priced at $.05 and consists of one common share and one common share purchase warrant exercisable for 2 years from closing. Each warrant entitles the holder to subscribe for one additional common share for $0.10. Proceeds will be used to complete drilling, logging and assaying of the current drill hole DDH-009 at its 100% owned Two Mile project in the Silver Valley, Idaho, and for general working capital.
The financing book opens, the book running is done, the phones are hit, the brokers are consulted, the pitches are made and here’s how it turned out, dated September 6th (today):

Corporate Update
Azteca closed its current financing at CAD $223,600, selling a total of 4,472,000 Units. Each Unit was priced at CAD $.05, and consisted of one share of common stock and one purchase warrant.

IKN assumes that the exploration program and budget expenditure flowthrough charts will be revised slightly. DYODD, dudettes and dudes.

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