By Sheri Kasprzak
Atlanta, Dec. 22 - Vangold Resources Ltd. said late Tuesday it has entered the private placement market with a C$2 million offering.
The company will sell 10 million units at C$0.20 each.
The units include one share and one warrant.
The warrants allow for an additional share at C$0.25 for one year.
Based in Vancouver, B.C., Vangold is a gold, oil and natural gas exploration and development company. It plans to use the proceeds from the offering for work on its programs in Papua, New Guinea, the exploration and development of projects in Alberta, and for general working capital.
| Issuer: | Vangold Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2 million
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| Shares: | 10 million units
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| Price: | C$0.20
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.25
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| Announcement date: | Dec. 21
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| Stock price: | C$0.25 at close Dec. 21
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