Investor Callinan also to acquire two royalty options from Golden Dory
By Devika Patel
Knoxville, Tenn., Nov. 8 - Golden Dory Resources Corp. plans a C$1 million private placement of units, according to a press release from investor Callinan Royalties Corp.
The company will sell 14,285,714 units of one common share and one warrant at C$0.07 per unit. Each warrant will be exercisable at C$0.10 for two years. The strike price is a 150% premium to the Nov. 7 closing share price of C$0.04.
Settlement is expected Nov. 12.
Callinan also will acquire two royalty options from Golden Dory on the Iron Horse Property. Golden Dory has agreed to spend $1 million in exploration on the Iron Horse Property before the end of 2013.
The Vancouver, B.C., company explores for gold, lithium, rare metals and uranium.
Issuer: | Golden Dory Resources Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$1 million
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Units: | 14,285,714
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Price: | C$0.07
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.10
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Investor: | Callinan Royalties Corp.
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Pricing date: | Nov. 8
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Settlement date: | Nov. 12
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Stock symbol: | TSX Venture: GDR
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Stock price: | C$0.04 at close Nov. 7
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Market capitalization: | C$3.09 million
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