AMANTA CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
June 15, 2009
Vancouver, B.C. Canada, June 15, 2009 – Amanta Resources Ltd. announces that it has closed the first tranche of a non-brokered private placement financing announced May 7, 2009.
This first tranche consists of 3,750,000 units (the "Units") of the Company, at a price of $0.07 per unit, for gross proceeds of $262,500.00. Each Unit consists of one common share and one half of a non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.12 per share for a period of 12 months from closing and for a further 12 months at $0.15.
Pieter Jan Bakker, director, Executive VP, and Chief Operating Officer of the Company, has subscribed for 500,000 units, and Gerald D. Wright, director, President, and Chief Executive Officer of the Company, has subscribed for 1,000,000 units of the first tranche of the private placement.
The 1,000,000 common shares Mr. Wright acquired represent approximately 1.96% of the issued and outstanding shares of the Company. As a result of the forgoing acquisition, Mr. Wright owns a total of 9,709,371 common shares of the Company representing approximately 19.07% of the issued and outstanding shares of the Company. Mr. Wright also owns 810,000 stock options and 500,000 warrants. If Mr. Wright were to exercise all of his options and warrants, he would then own 11,019,371 common shares of the Company representing approximately 21.10% of the issued and outstanding shares assuming that no further common shares of the Company have been issued. The securities acquired will be held for investment purposes.
The Company has agreed to pay finders’ fees in connection with this financing. Finders’ fees relating to this first tranche totaled $4,200.00 in cash, 18,000 common shares and 60,000 warrants. All of the securities are subject to a hold period expiring October 16, 2009.
Net proceeds from the private placement will principally be used for expenses associated with the ongoing development of the company’s Luang Namtha copper project and for general working capital.
Amanta Resources Ltd. is focused on mineral exploration, development and production in Laos and Thailand. The Company is currently developing the Luang Namtha copper project in the Lao PDR, under a Joint Development Agreement with Japan Oil, Gas and Metal National Corporation (JOGMEC). Amanta is also developing gold and tungsten projects in Thailand.
ON BEHALF OF THE BOARD OF
AMANTA RESOURCES LTD.
"Gerald D. Wright"
Gerald D. Wright,
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact Catherine Forrest at 604-730-9505 or by email at info@amantaresources.com