Animas Resources increases financing to $2 Million for Santa Gertrudis Gold Project Drilling

3rd Jun 2009, 7:52 pm by Sam Kiri Gold and Silver continues to be the flavour of the day in North American capital markets in the face of weakening US dollar. Companies with advanced stage projects have been particularly successful in raising funds to finance their development endeavours. The ability to raise funds also endorses the promising nature of their projects. Some companies even receive more funds than they originally sought.

That appears to be the case for Canadian Venture listed Animas Resources (TSX.V: ANI). ANI has increased the recently announced non-brokered private placement by $500,000 to $2 million due to additional demand for the Units and the financing is fully subscribed. These additional funds will allow the Company to expand the upcoming drill program at the Santa Gertrudis gold project and the many targets currently being identified by the geological team in this large district

Each Unit comprises one common share and one-half of one non-transferable warrant. Each whole warrant entitles the holder to purchase one additional common share for a period of 24 months at a price of $0.60 per common share during the first 12 months from closing and $0.75 per common share during the final 12 months. ANI has agreed to pay a finders fee of 7.5% or $11,550 to one party on $154,000 of the placement. The remainder of the offering was arranged by the Company and no finders fees will be paid on it. The financing will be subject to customary regulatory approval and all securities issued will be subject to a four-month hold period.

According to Gregory E. McKelvey, President & CEO a large portion of the financing went to a well connected Mexican businessman who is committed to the long-term development of the Santa Teresa Mining District. The remaining portion of the financing was subscribed by a small group of industry professionals that have supported, and continue to support, the Company's developments.

It has been busy several months for ANI. The company completed the acquisition of the Lixivian claims inside of their Santa Teresa Mining Distirct in 3Q2008 which consolidated the critical lands within the Amelia area and opened up new potential targets for testing. Combined with the current extensive land holdings, this area is one of several geologically permissive targets that are larger than those mined in the past.

An ambitious drilling programme awaits at ANI. The geological database is being updated and the targets are being ranked to prioritize them for this programme. We will keep the readers informed as the story unfolds.

About Animas Resources
Animas Resources is a North American exploration company with diversified mining interests in Mexico. Building from the historic resource base at the Santa Gertrudis deposit (within a 214 sq. mile concession), the company will strategically expand the near surface and deeper resources to the economic decision points that increase shareholder value. The company also plans to evaluate numerous targets within its 296 sq. Kilo metre Shirley concession with the intent to form joint venture opportunities.