By Sheri Kasprzak
New York, Aug. 8 - Goldcrest Resources Ltd. has completed the last tranche of its C$2.1 million private placement.
In the second and final tranche, the company sold 3,404,000 units at C$0.175 each for proceeds of C$595,700.
The units are comprised of one share and one half-share warrant. The whole warrants provide for the purchase of an additional share at C$0.25 each for two years.
The first tranche closed on July 5 for C$1,504,300.
The proceeds will be used for exploration at the company's Youanmi project in Western Australia and at its Malba and Kampti projects in Burkina Faso.
Based in Toronto, Goldcrest is a mineral exploration company.
| Issuer: | Goldcrest Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$595,700
|
| Units: | 3,404,000
|
| Price: | C$0.175
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | June 20
|
| Settlement date: | Aug. 8 (for second tranche)
|
| Stock price: | C$0.20 at close June 20
|
| Stock price: | C$0.175 at close Aug. 8
|
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