American Bonanza Closes $6 Million Financing

American Bonanza Gold Corp. (TSX:BZA) announced that it has closed its previously announced public offering of common shares of the Company.

The press release is quoted as saying:

A total of 11,500,000 Shares were sold under the Offering on a bought deal basis to National Bank Financial Inc., at a price of $0.53 per Share, for gross proceeds of $6,095,000, pursuant to an Underwriting Agreement dated September 14, 2011. The Company paid the Underwriter a cash commission equal to 6% of the gross proceeds of the Offering and issued to the Underwriter broker warrants to purchase that number of common shares of the Company equal to 6% of the Offering at a price of $0.61 per share, exercisable until March 29, 2013. The Underwriter holds an over-allotment option, exercisable at any time prior to 30 days following the closing of the Offering, to acquire up to an additional 1,725,000 Shares at a price of $0.53 per Share.

Click here to access the entire press release. 

Click here to access American Bonanza’s company profile.(TSX:BZA)