Non-brokered offering sells 14.71 million shares at C$0.20 per share
By Devika Patel
Knoxville, Tenn., April 1 – GoldQuest Mining Corp. said it raised C$2.94 million in a non-brokered private placement of stock. The deal priced for C$3 million on March 15.
The company sold 14.71 million common shares at C$0.20 each. The price per share is a 9.09% discount to the company’s C$0.22 closing price on March 14.
Proceeds will be used for exploration and general working capital purposes.
Foster & Associates Financial Services Inc., Raymond James Ltd. and Cormark Securities Inc. were paid a 7% cash finder's fee.
GoldQuest is a gold exploration company based in Toronto.
| Issuer: | GoldQuest Mining Corp.
|
| Issue: | Common shares
|
| Amount: | C$2,942,000
|
| Shares: | 14.71 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 15
|
| Settlement date: | April 1
|
| Stock symbol: | TSX Venture: GQC
|
| Stock price: | C$0.22 at close March 14
|
| Market capitalization: | C$29.19 million
|
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