Gold explorer sells 24 million units of shares, warrants at $0.10 each
By Devika Patel
Knoxville, Tenn., Jan. 6 - Golden Phoenix Minerals Inc. completed a private placement of units on Dec. 31, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised $2.4 million in the offering, which priced for $2 million on Dec. 22.
The company sold 24 million units of one common share and one warrant at $0.10 per unit.
Each warrant is exercisable at $0.15 for two years. The strike price is a 28.57% discount to $0.21, the Dec. 21 closing share price.
Based in Sparks, Nev., Golden Phoenix is a gold exploration company.
| Issuer: | Golden Phoenix Minerals Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $2.4 million
|
| Units: | 24 million
|
| Price: | $0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.15
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 31
|
| Stock symbol: | OTCBB: GPXM
|
| Stock price: | $0.20 at close Dec. 22
|
| Market capitalization: | $44.59 million
|
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