American Bonanza Announces $6 Million Bought Deal Financing

American Bonanza Gold Corp. (TSX:BZA) reported that it has entered into an agreement with National Bank Financial Inc. on a bought deal basis, 11,500,000 common shares at an issue price of $0.53 per common share for gross proceeds of $6,095,000.

The press release is quoted as saying:

The net proceeds from the Offering will be used for exploration and development and general corporate purposes. Closing of the Offering is expected to occur on or about September 29, 2011. The construction phase at the 100% owned Copperstone gold mine in Arizona is nearing completion, and Bonanza is accelerating the planned transition to owner-mining, and intends to accelerate planned drilling of expansion targets at Copperstone as well as pursue potential acquisitions that would expand its production base.

Click here to access the entire news release. 

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