Non-brokered deal offers units with full warrants at C$0.25 per unit
By Devika Patel
Knoxville, Tenn., June 18 - Cosigo Resources Ltd. said it completed a C$1.11 million non-brokered private placement of units. The deal priced for C$1 million on May 21.
The company sold 4,455,100 units of one common share and one warrant at C$0.25 per unit.
Each warrant is exercisable at C$0.50 for one year. The strike price is a 127.27% premium to C$0.22, the May 20 closing share price.
Proceeds will be used for a reverse-circulation drilling program and exploration on the company's Machado Project in Colombia and for general corporate purposes.
The Vancouver, B.C., company explores for gold deposits in Colombia and Brazil.
| Issuer: | Cosigo Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,113,775
|
| Units: | 4,455,100
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | May 21
|
| Settlement date: | June 18
|
| Stock symbol: | TSX Venture: CSG
|
| Stock price: | C$0.22 at close May 20
|
| Market capitalization: | C$23.42 million
|
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