By Laura Lutz
Des Moines, Aug. 15 - Great Western Minerals Group Ltd. settled a private placement of units for C$9.775 million, down from the C$10 million maximum size announced at pricing on July 13.
The company sold 24,437,500 units of one share and one warrant at C$0.40 per unit. The warrants are exercisable at C$0.55 for two years.
PowerOne Capital Markets Ltd. was the agent.
The placement priced on July 13 as an offering of up to 25 million units.
The proceeds will be used for the company's Hoidas Lake project.
Great Western is a mineral exploration company based in Saskatoon, Sask.
| Issuer: | Great Western Minerals Group Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$9.775 million
|
| Units: | 24,437,500
|
| Price: | C$0.40
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
| Agent: | PowerOne Capital Markets Ltd.
|
| Announcement date: | July 13
|
| Settlement date: | Aug. 15
|
| Stock symbol: | TSX Venture: GWG
|
| Stock price: | C$0.39 at close July 12
|
| Stock price: | C$0.37 at close Aug. 14
|
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