United States Antimony Corp. (NYSEAMEX:UAMY) today announced it has executed definitive agreements with institutional and accredited investors for gross proceeds of $2,861,502 in connection with the Company’s private placement of common stock and warrants.
The transaction involves the sale of 953,834 newly-issued shares of the Company’s common stock at the price of $3.00 per share and warrants to purchase an additional 476,917 shares of the Company’s common stock at $4.50 per share.
The transaction will close pending satisfaction of certain closing procedures. Net proceeds from the transaction will be used to increase the company’s Mexican processing capacity to accommodate new ore supplies coming from Mexico. Initiatives will include retrofitting operating furnaces at the Mexican smelter, constructing an antimony tri-sulfide plant in Montana, installing larger crusher and precrusher equipment at the Puerto Blanco mill in Mexico, and launching a two part exploration/development plan at the Los Juarez property.
John Lawrence, Chief Executive Officer, commented, “After lengthy preparations, we are stepping up the Company’s Mexican operations to provide a larger supply of non-Chinese antimony for Far Eastern and North American markets.”Global Hunter Securities acted as the sole placement agent in the transaction. Stoel Rives LLP served as legal advisor to United States Antimony Corp. in the transaction. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities. For additional information, please refer to UAMY’s current report on Form 8-K to be filed with the Securities and Exchange Commission in conjunction to this transaction. The securities offered in the transaction will not be registered under the Securities Act of 1933, as amended, pursuant to an exemption from registration and may not be offered or in the United States absent registration or an applicable exemption from registration requirements. About United States Antimony Corp.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV