Americas Bullion Royalty Closes Private Placement
HAYDEN, ID, March 26, 2013 /CNW/ - Americas Bullion Royalty Corp. (TSX: AMB) (the "Company") is pleased to announce that it has closed the non-brokered private placement announced on March 15, 2013. Pursuant to the private placement, the Company issued 10,000,000 common shares at a price of $0.24 per common share for gross proceeds to the Company of $2,400,000.
A total of 31 investors purchased shares in the private placement, including the following six insiders: William M. Sheriff, Paul H. Zink, Thomas Skimming, Barry Rayment, Timothy Leybold and Janet Lee-Sheriff. In connection with the private placement, the Company paid cash finders' fees of $59,040.
The Company intends to use the proceeds from the sale of the shares for general working capital purposes.
Americas Bullion Royalty Corp.
Americas Bullion Royalty Corp. is a precious metals royalty and streaming company designed to provide revenue as well as lower risk exposure to shareholders through project diversity in stable, mining-friendly jurisdictions. The Company's existing 34 property portfolio, comprising more than 100,000 acres predominantly in Nevada, is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock deposits, as well as 2 separate projects encompassing more than 34 square miles at Barrick Gold's Bald Mountain project in Nevada.
The Company's royalty portfolio includes several royalty projects that have disclosed an intention to commence production, some as early as 2014, which would provide the Company with significant additional royalty revenues. The Company's prime royalty portfolio is unique in the mineral royalty industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash), its concentration of gross royalties with no exposure to operator cost, as well as its security of future revenues with no buyback or buyout provisions.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Americas Bullion's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Americas Bullion assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Americas Bullion Royalty Corp.
Scott Powell, Director of Investor Relations Or
Janet Lee-Sheriff, Vice President Communications and First Nation Relations
(208) 635-5415
info@aubullion.com
www.aubullion.com