Argonaut Exploration Inc. (TSXV:AGA) announced a private placement of 11,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 550,000 on February 28, 2013. The transaction will be completed on best efforts basis. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 0.10 per share for a period of 18 months from the date of issue. IBK ... Capital Corp. will act as the placement agent to the company. The company will pay on the closing date thereon a commission equal to 9% of the total amount of the transaction, and a non-refundable work fee of CAD 25,000 to IBK Capital Corp. The work fee will be deducted from the commission upon closing of the transaction. The company will also issue to IBK Capital non-transferable common share purchase warrants. The number of broker warrants to be issued to IBK Capital will be equal to 10% of the total number of units issued pursuant to the transaction to a maximum of 1,100,000 broker warrants. Each broker warrant shall entitle IBK Capital to purchase one common share at a price of CAD 0.05 per warrant for a period of 18 months from the date of issue.
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