Americas Gold and Silver Corporation (NYSE American: USAS) Stock Surges On Upgraded Private Placement
Yesterday, the Americas Gold and Silver Corporation (NYSE American: USAS) stock was one of the notable movers after it recorded gains of 22% following a major new announcement from the company.
The Announcement
The company announced yesterday that it had decided to raise the size of a previously announced private placement to C$45 million. In a previous news release, Americas Gold announced that it had signed a binding agreement with Paul Andre Huet and Eric Sprott to acquire the residual 40% stake in the Galena Complex.
At the time, the company also announced that it was going to have a private placement to raise C$40 million for the issue price of $0.40 for each subscription receipt.
New Agreement
Yesterday, Americas Gold stated that it had gone into an amending agreement with the group of underwriters to raise the size of the financing. In order to accomplish that the company would offer 12,500,000 subscription receipts, this would take the total of subscription receipts to 112,500,000 and generate potential aggregate gross proceeds to the tune of C$45 million.
The company also revealed that it also offered the underwriters to pick up a maximum of 1,2500,000 subscription receipts at the issue price so as to raise another C$5 million.
Traders Notes
| +/- EMA(20) | 0.32 (+21.69%) |
| +/- SMA(50) | 0.27 (+44.22%) |
| +/- SMA(200) | 0.26 (+49.77%) |
| 5-Day Perf. | +19.12% |
| 1-Month Perf. | +60.44% |
| 3-Month Perf. | +62.59% |
| 6-Month Perf. | +36.15% |
| YTD Perf. | +53.31% |
| 1-Year Perf. | +13.53% |
| RSI(14) | 74.63 |
| ATR(14) | 0.03 |
| ADX(14) | 34.65 |
| Beta (5Y) | 0.84 |
