The second part involves AIH’s participation in a non-brokered private placement by subscribing to 5.73 million units, fetching C$25.76 million.
After these two transactions, AIH’s ownership of Marimaca would be 14.99% on a non-diluted basis and 18.07% on a partially diluted basis. Prior to the Tembo acquisition and the AIH private placement, the mining investment group had no holdings in Marimaca’s securities.
Investment gives Assore International a 14.99% non-diluted stake in the Canadian copper company.
The Canadian copper explorer and developer also revealed that another, unnamed investor would participate in a private placement, subscribing for one million units at the same pricing terms as the AIH private placement. This will result in gross proceeds of C$4.5 million.
The funds raised from the private placements will be used to progress the development of the company’s flagship project, including a definitive…
