Offer sells 13.4 million units of one share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Sept. 25 – Columbus Gold Corp. said it raised C$5.36 million through a non-brokered private placement of units. The offering priced for up to C$10 million on Sept. 2.
The company sold 13.4 million units of one common share and a half-share warrant at C$0.40 per unit.
Each whole, one-year warrant is exercisable at 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 for an extensive drill program at 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.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$5.36 million
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| Units: | 13.4 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.75
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| Agent: | Non-brokered
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| Pricing date: | Sept. 2
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| Settlement date: | Sept. 25
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| Stock symbol: | TSX Venture: CGT
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| Stock price: | C$0.43 at close Sept. 3
|
| Market capitalization: | C$56.28 million
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