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| Home : Santa Fe Metals Corp. Announces Further Terms of Proposed Transactions |
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Nov 05
2012 |
Santa Fe Metals Corp. Announces Further Terms of Proposed Transactions |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2012) - Santa Fe Metals Corp. (the "Company") (TSX VENTURE:SFM) is pleased to announce further details regarding the proposed $400,000 private placement it previously announced by news release dated October 29, 2012 (the " Initial Financing"). The Company now expects that the Initial Financing will involve the issuance of 16,000,000 units of the Company (the "Financing Units") at a price of $0.025 per Financing Unit, on a pre-Share Consolidation (as defined below) basis, which is expected to represent a price of $0.50 per Financing Unit, on a post-Share Consolidation basis. Each Financing Unit will be comprised of one common share of the Company on a post-Consolidation basis (the "Post-Consolidation Shares") and one-half of one common share purchase warrant (each such whole warrant, a "Financing Warrant"). Each Financing Warrant will entitle the holder thererof to purchase one Post-Consolidation Share at a price of $0.70 for a period of two years following the issue date of the Financing Warrant. The Company will have the right to shorten the exercise period of the Financing Warrants to 20 days in the event that the closing price of the Post-Consolidation Shares on the TSX Venture Exchange (the "Exchange") exceeds $1.00 for a 20 trading day period. |
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| Source:http://www.marketwire.com/mw/release.do?id=1721533&sourceType=3 |
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