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Mexican Businessman Boosts Stake in Animas Resources; Shares Spike 45%

Animas Resources (ANI.V) is up sharply in early trade, adding 8 cents to reach 27 cents a share after announcing plans last night to raise $3.4 million from a new controlling shareholder, selling 17 million equity units in a non-brokered placement priced at 20 cents each to Ernesto Echavarria, a Mexican businessman who increasingly has been building stakes in Canadian miners over the past two years. Assuming shareholder approval for the transaction, Echavarria will own 39.1% of Animas stock.

Animas also has appointed a new management team, led by CEO John Wilson, and will shift the company's focus on gold production at its Santa Gertrudis gold project in Mexico while selling its interest in the Kinsley Mountain project in Nevada

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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