Company uses proceeds for exploration and development of its projects
By Devika Patel
Knoxville, Tenn., Sept. 19 - Garrison International Ltd. said it completed a C$3.43 million non-brokered private placement of units. The deal priced for C$5 million on June 3.
The company sold 68.6 million units of one common share and one warrant at C$0.05 per unit.
Each whole warrant will be exercisable at C$0.10 until Sept. 16, 2013. The strike price reflects a 185.71% premium to the June 2 closing share price of C$0.035.
Proceeds will be used for exploration and development of the company's projects, debt reduction and general working capital.
The gold exploration company is based in Vancouver, B.C.
| Issuer: | Garrison International Ltd.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$3.43 million
|
| Units: | 68.6 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Sept. 16, 2013
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | June 3
|
| Settlement date: | Sept. 19
|
| Stock symbol: | TSX Venture: GAU
|
| Stock price: | C$0.035 at close June 2
|
| Market capitalization: | C$3.66 million
|
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