By Laura Lutz
Des Moines, Dec. 24 - Vangold Resources Ltd. raised C$1.29 million from the second tranche of its C$4.5 million private placement of units, according to a news release.
This tranche brings the total raised to C$3.44 million.
In total, the company plans to sell up to 9 million units of one share and one non-transferable warrant at C$0.50 per unit. Each warrant will be exercisable at C$0.60 for one year.
The most recent tranche included 2,587,000 units, and the first tranche included 4.3 million units.
The placement priced on Nov. 2 as a C$3 million offering and was upsized to C$4.5 million on Nov. 26. The first tranche, for C$2.15 million, closed on Dec. 13.
Proceeds will be used for exploration and development.
Vangold Resources is a resource exploration company based in Vancouver, B.C.
| Issuer: | Vangold Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$4.5 million
|
| Units: | 9 million
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.60
|
| Pricing date: | Nov. 2
|
| Amended: | Nov. 26
|
| Settlement date: | Dec. 5 (for C$2.15 million); Dec. 24 (for C$1,293,500)
|
| Stock symbol: | TSX Venture: VAN
|
| Stock price: | C$0.56 at close Nov. 2
|
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