Secutor helps raise funds for development of Jerritt Canyon property
By Devika Patel
Knoxville, Tenn., Aug. 30 - Veris Gold Corp. said it may raise C$8 million in a private placement of subscription receipts. Secutor Capital Management Corp. is the agent.
The company will sell 15,384,615 receipts at C$0.52 apiece. The purchase price is identical to the Aug. 29 closing share price.
Each receipt will convert into one unit of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.60 for three years. The strike price is a 15.39% premium to the Aug. 29 closing price.
Proceeds will be used for development of the Jerritt Canyon property and general working capital purposes.
Veris is a Vancouver, B.C.-based gold exploration company.
| Issuer: | Veris Gold Corp.
|
| Issue: | Subscription receipts convertible into units of one common share and one half-share warrant.
|
| Amount: | C$8 million
|
| Receipts: | 15,384,615
|
| Price: | C$0.52
|
| Warrants: | One half-share warrant per unit upon conversion
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.60
|
| Agent: | Secutor Capital Management Corp.
|
| Pricing date: | Aug. 30
|
| Stock symbol: | Toronto: VG
|
| Stock price: | C$0.52 at close Aug. 29
|
| Market capitalization: | C$67.11 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
