By Devika Patel
Knoxville, Tenn., May 15 - Guyana Goldfields Inc. said it will raise C$12.05 million in a private placement of units.
The company will sell 4,381,818 units of one common share and one half-share warrant at C$2.75 per unit.
Each whole warrant will be exercisable at C$4.00 for three years.
International Finance Corp. will buy C$5 million of the units.
Proceeds will be used to complete the company's previously announced definitive feasibility study, for exploration and general working capital purposes.
Toronto-based Guyana is a gold exploration company.
| Issuer: | Guyana Goldfields Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$12.05 million
|
| Units: | 4,381,818
|
| Price: | C$2.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$4.00
|
| Investor: | International Finance Corp. (for C$5 million)
|
| Pricing date: | May 15
|
| Stock price: | Toronto: GUY
|
| Stock price: | C$2.71 at close May 14
|
| Market capitalization: | C$176 million
|
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