AP Strategic

AP Strategic: Has proposed a renounceable rights-cum-warrants issue, on the basis of: - 5 rights shares (issue price: 2¢ each) for every 1 existing share, and - 1 warrant (exercise price: 2¢ each) for every 1 rights share subscribed Assuming none of the warrants are exercised, AP Strategic stands to raise between $12.6m and $21.7m, depending on the take-up rate of the rights issue. The additional proceeds arising for the exercise of all of the warrants is ~$21.9m. The net proceeds from the rights shares will be used to defray the company’s costs and expenses arising from its proposed acquisition of Coeur Gold Armenia from George H Richmond, first announced early Sep. The counter is up strongly for the second consecutive day, +14.9% at $0.27. Recall, AP Strat previously tipped that the acquisition of Coeur Gold Armenia would be fulfilled by cash and the allotment and issuance of new shares. Coeur Gold controls the interests in two companies incorporated in Armenia which in turn hold mining exploration rights in the Azatek and Sofi Bina Mineral Deposits, Armenia in respect of gold, silver, antimony and copper.