By Sheri Kasprzak
New York, Feb. 26 - African Gold Group, Inc. priced a C$3.5 million private placement.
The deal includes up to 2 million units at C$1.75 each.
The units consist of one share and one half-share warrant with each full warrant exercisable at C$2.25 each for two years.
Placement agent Westwind Partners Inc. has a greenshoe for up to 1 million additional units.
Proceeds will be used for exploration programs and general corporate purposes.
Toronto-based African is a gold exploration company.
| Issuer: | African Gold Group, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.5 million
|
| Units: | 2 million
|
| Greenshoe: | 1 million units
|
| Price: | C$1.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.25
|
| Placement agent: | Westwind Partners Inc.
|
| Pricing date: | Feb. 26
|
| Stock symbol: | TSX Venture: AGG
|
| Stock price: | C$1.76 at close Feb. 26
|
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