Non-brokered offering sells units with half-share warrants at $3.00
By Devika Patel
Knoxville, Tenn., Aug. 14 - Gold Reserve Inc. said it plans a $5.25 million non-brokered private placement of units.
The company will sell 1.75 million units of one class A common share and one half-share warrant at $3.00 per unit.
Each whole warrant is exercisable at $4.00 for two years. The strike price reflects a 33.33% premium to $3.00, the Aug. 13 closing share price.
Proceeds will be used for general working capital.
Gold Reserve is a gold and copper mining company based in Spokane, Wash.
| Issuer: | Gold Reserve Inc.
|
| Issue: | Units of one class A common share and one half-share warrant
|
| Amount: | $5.25 million
|
| Units: | 1.75 million
|
| Price: | $3.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $4.00
|
| Agent: | Non-brokered
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| Pricing date: | Aug. 14
|
| Stock symbol: | OTCBB: GDRZF
|
| Stock price: | $3.00 at close Aug. 13
|
| Market capitalization: | $218.99 million
|
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