American Bonanza Announces $14 Million Private Placement

American Bonanza Gold Corp. (TSX:BZA) reports its private placement of $14,000,000.

The press release is quoted as saying:

Bonanza will also grant to the Agent an option, exercisable at any time up to 48 hours prior to the closing of the Offering, to over-allot the Offering by up to 10,000,000 additional Units of Bonanza at a price of $0.35 per Unit for additional gross proceeds to the Company of up to $3,500,000. 

Bonanza plans to use the net proceeds from the Offering to advance the ongoing development of its 100% owned Copperstone gold mine in Arizona and for general corporate purposes.

Click here to access the entire news release.

Click here to access American Bonanza’s company profile.