Deal funds exploration on the Toro project and general working capital
By Devika Patel
Knoxville, Tenn., Nov. 23 - Dawson Gold Corp. said it raised C$189,000 in the first tranche of a C$1.2 million private placement of units. The offering priced Nov. 17.
The company is selling 24 million units of one common share and one warrant at C$0.05 per unit. It sold 1.78 million units in the initial tranche.
Each 18-month warrant will be exercisable at C$0.10. The strike price is a 233.33% premium to C$0.03, the Nov. 16 closing share price.
Proceeds will be used for exploration on the company's Toro project in the Yukon and for general working capital purposes.
Dawson is a gold exploration company based in Vancouver, B.C.
| Issuer: | Dawson Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 24 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 23 (for C$189,000)
|
| Stock symbol: | TSX Venture: DYU
|
| Stock price: | C$0.03 at close Nov. 16
|
| Market capitalization: | C$1.02 million
|
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