Afri-Can Marine Minerals Closes $200,000 Non-Brokered Private Placement

Afri-Can Marine Minerals Corporation (TSXV:AFA) announced the closing of a $200,000 non-brokered private placement, consisting of 5,000,000 units of Afri-Can, at a subscription price of $0.04 per Unit, and previously announced on June 28, 2013.

As quoted in the press release:

The non-brokered private placement comprises 5,000,000 units (the “Units”) of Afri-Can, at a subscription price of $0.04 per Unit. Each Unit consists of one (1) common share and one half (1/2) common share purchase warrant (“Warrant”) of Afri-Can. The Warrants expire in two years from the date of closing of the private placement. Each full Warrant entitles the holder thereof to purchase one (1) Afri-Can common share at an exercise price of $0.06 during the first year from the date of closing of the placement and at an exercise price of $0.10 per common share during the second year from the date of closing of the placement.

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