Vancouver, British Columbia, December 10, 2015 - Anthem United Inc. (TSXV: AFY) (“Anthem” or the “Company”) proposes to undertake a non-brokered private placement financing to raise gross proceeds of up to CDN$500,000 (the “Private Placement”).
The Private Placement will consist of an issue of units at a price of CDN$0.24 per unit with each unit consisting of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole warrant being a "Warrant"). Each Warrant will entitle the holder to acquire one common share at a price of CDN$0.35 for a period of five years following the date of the closing of the Private Placement.
The proceeds from the Private Placement will be used to fund general and operating working capital, including the purchase of gold-bearing feed for processing at the Company’s Koricancha Mill in Peru. Anthem reserves the right to increase the size of the Private Placement, subject to approval by the TSX Venture Exchange. Further, the Company may pay finder’s fees in connection with the Private Placement.
The Private Placement is expected to close in December 2015. The Private Placement is subject to certain conditions, including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange. There is no certainty the Private Placement will close.
About Anthem United Inc.
Anthem (www.anthemu.com) is focused on building a precious metals producing company through the acquisition and development of silver and gold mineral assets. The Company is currently advancing the operation of the 350 tonne per day Koricancha Mill in Peru, in which it owns a 75% interest. The Company’s joint venture partner, EMC Green Group S.A., owns the remaining 25%, subject to an 8% cost of sales royalty payable to Anthem, and is the operator of the Koricancha Mill. The Koricancha Mill produces gold for its own account by processing gold-bearing material purchased from small scale and artisanal miners in Peru.
In May 2015, Anthem and EMC announced the acquisition of a second 350 tonne per day gold mill and associated mineral claims, collectively the “Chaparra Assets” (see news release dated May 28, 2015). The acquisition of the Chaparra assets is expected to close in the first quarter of 2016, subject to financing.