Ansell Capital Corp. Closes Combined Brokered And Non-Brokered Private Placements
May 3, 2011 Vancouver, British Columbia - Ansell Capital Corp. (TSXV: ACP) (“Ansell” or the “Company”) is pleased to announce that it has closed both the brokered and non brokered private placements announced in its news releases of April 5 and April 8, 2011 for gross proceeds of $5,582,000.
Pursuant to the brokered portion of the private placement 10,400,000 non flow through units were sold at a price of $0.32 per unit and 1,875,000 flow through units were sold at a price of $0.40 per unit. The non flow through units consisted of one share and one half share purchase warrant providing the holder with the right to subscribe for one additional common share for each full warrant held at a price of $0.40 in the first year and $0.50 in the second year. The units in the flow through portion of the offering consisted of one common share and one half common share purchase warrant with each full warrant being exercisable for a period of 24 months to purchase one additional share of Ansell at a price of $0.50 per share.
The brokered portion of the offering was completed by Canaccord Genuity Corp. and PowerOne Capital Markets Limited. As compensation for the placement of the units, the Agents received a 7% cash commission and 859,250 broker warrants calculated as 7% of the number of securities sold by the Agents.
Each broker warrant is exercisable to purchase one additional common share of the Company at a price of $0.40 in the first year from the date of issuance and $0.50 in the second year from the date of issuance.
The non brokered portion of the private placement concurrently closed on April 29, 2011 consisted of the placement of 4,700,000 units at a price of $0.32 per unit. The features of the units placed in the non brokered portion of the placement were identical to the features of the non flow through units placed by the Agent. The gross proceeds of the non brokered portion of the private placement was $1,504,000.
As compensation for the placement of the non brokered portion of the placement, Ansell paid commissions or finder’s fees of $94,623. In addition, Ansell issued as compensation for the placement 234,623 broker warrants to member firms eligible to receive broker warrants for their efforts in placing the non brokered portion of the offering.
The combined securities issued by Ansell pursuant to the brokered and non brokered private placement consists of 16,975,000 shares, 8,487,500 warrants and 1,093,873 broker warrants. All securities issued by Ansell pursuant to the combined offerings have been issued subject to a four month hold period expiring August 30, 2011.
The combined financing closed by Ansell fulfilled a condition of the TSX Venture Exchange to the closing of Ansell’s acquisition of the Charlotte Property located in the Whitehorse Mining District of the Yukon Territory. Concurrently with the closing of the private placements, Ansell also fulfilled the payment terms under the Option Agreement entered into with Eagle Trail Properties Inc. and Guinness Exploration, Inc., Richard Coglon, Robert Sim and Ansell as announced in Ansell’s news release of October 14, 2010 by paying to each of Richard Coglon and Robert Sim the sum of $250,000 and 6,000,000 units of Ansell. Each unit of Ansell issued to Messrs,. Coglon and Sim consisted of one share and .67 share purchase warrants exercisable to purchase one additional common share of Ansell for each full warrant held at a price of $0.35 for a period of two years from the date of issuance.
The securities issued to Messrs. Coglon and Sim were issued subject to a four month hold period expiring August 30, 2011.
Jevin Werbes, President of Ansell stated, “The proceeds realized from the offerings closed on April 29, 2011 combined with cash on hand of approximately $1,600,000 before the offerings will leave Ansell with substantial capital to be able to commence aggressive exploration programs on the Dal and Charlotte Properties located in the Dawson and Whitehorse Mining Districts of the Yukon in the 2011 exploration season. We look forward to publishing the results of the programs as received.”
ANSELL CAPITAL CORP.
For further information, please visit the website at www.sedar.com to view the Company’s profile or contact Ansell at 604-921-1810.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.