Units will consist of one share and half of a one-year warrant
By Angela McDaniels
Tacoma, Wash., Sept. 3 – Columbus Gold Corp. plans to raise up to C$10 million through a non-brokered private placement of units. The offering priced Sept. 2.
The company will sell up to 20 million units for C$0.50 each, according to a company news release.
Each unit will consist of one common share and half of a one-year warrant. Each whole warrant will entitle the holder to acquire one common share at a price of C$0.75, which is a 68.5% premium to the company’s C$0.445 closing share price on Aug. 29.
The company plans to use the proceeds to advance its Eastside gold project in Nevada and for general working capital purposes.
Columbus Gold is a gold miner based in Vancouver, B.C.
| Issuer: | Columbus Gold Corp.
|
| Issue: | Units of one common share and half a warrant
|
| Amount: | Up to C$10 million
|
| Units: | Up to 20 million
|
| Price: | C$0.50
|
| Warrants: | Half a warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 2
|
| Stock symbol: | TSX Venture: CGT
|
| Stock price: | C$0.43 at close Sept. 3
|
| Market capitalization: | C$52.48 million
|
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