ASC To Raise $700,000, To Acquire Peruvian Mining Concessions
ASC Industries has entered into negotiations to acquire a number of mining concessions in Peru. In anticipation of the preliminary cash requirements, the company has agreed to a non-brokered private placement consisting of up to two million units of the company at a price of 35 cents per unit, raising gross proceeds of up to $700,000. Each unit consists of one common share and one share purchase warrant, each share purchase warrant being exercisable over a period of one year entitling the holder to purchase one additional common share of the company at an exercise price of 50 cents. There will be no finder's fee payable in this private placement transaction.