Amanta Resources Ltd. announced that it has received CAD 1.90 million in funding.
On November 26, 2012, Amanta Resources Ltd. closed the transaction. The company issued 36,190,475 units for gross proceeds of CAD 1,900,000. As a part of the transaction, 9,400,000 units were issued to a Hong Kong based investor and 5,200,000 units will be placed in escrow, pending approval from the TSX venture exchange. On approval, the subscriber of the escrowed units will become an insider of the company holding 19.9% of the outstanding shares. The shares were issued to a total of 17 placees. Gail Wright subscribed for 1,499,048 units, Gerald Wright subscribed for 3,000,000 units, and Rise Trend Holdings Ltd., an entity owned by Shaoping Wen and Badan Huang subscribed for 9,400,000 units in the transaction. The warrants issued to the subscriber are subject to restrictions on exercise that prevent from owning more than 20% of the outstanding shares of the company without prior shareholder approval. The company paid CAD 49,350 as finder's fees to Leede Financial Markets Inc. All the securities issued in the transaction are subject to a hold period expiring on March 27, 2013.