By Devika Patel
Knoxville, Tenn., Dec. 8 - Grandview Gold Inc. said it completed a C$2 million non-brokered private placement of units. The deal priced Oct. 16.
The company sold 26,666,665 units at C$0.075 apiece. Of the units, 6,666,665 were sold on a non-brokered basis. The remaining 20 million units were sold to Centerpoint Resources Inc.
Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.12 for two years.
Proceeds will fund Grandview's program on its Giulianata property in Peru and also be used to meet working capital and general corporate purposes.
Grandview Gold is a gold exploration and development company based in Toronto.
| Issuer: | Grandview Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 26,666,665
|
| Price: | C$0.075
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered (for C$500,000)
|
| Investor: | Centerpoint Resources Inc. (for C$1.5 million)
|
| Pricing date: | Oct. 16
|
| Settlement date: | Dec. 8
|
| Stock symbol: | Toronto: GVX
|
| Stock price: | C$0.10 at close Oct. 16
|
| Market capitalization: | C$41.8 million
|
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