Anvil Mining share purchase warrants fully exercised raising CDN$16.4 million
11:09 EDT Monday, June 19, 2006
TSX, ASX: AVM
Common shares outstanding 55.5 million
PERTH, Australia, June 19 /CNW Telbec/ - Anvil Mining Limited (TSX, ASX: AVM), ("Company") is pleased to announce that all outstanding Share Purchase Warrants exercisable at CDN$6.25, with an original expiry date of December 16, 2007 and subsequently accelerated to June 5, 2006, have been fully exercised for common shares of the Company. The Company raised CDN$16.4 million from the exercise of these warrants and as a result, the total number of outstanding common shares of the Company has increased to 55.5 million shares.
With these proceeds, the Company is currently well-funded with US$130 million in cash reserves to advance the development of the Kinsevere and Mutoshi copper projects in the Democratic Republic of Congo as well as to provide general working capital to the Company.
Bill Turner, President and CEO, stated "The Company is extremely pleased to have all warrant holders exercise their warrants and it is grateful for the support shown by them in what is currently an uncertain market."
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