By Laura Lutz
Des Moines, Aug. 10 - De Beira Goldfields Inc. plans to raise $2.5 million in a private placement of shares.
The company will sell 1.25 million common shares at $2.00 each. Each share will come with one warrant, exercisable at $2.50 until Aug. 31, 2008.
The company will use the proceeds for exploration at the Colombian Titiribi copper and gold project and the Minanca project in Ecuador, for upgrades to the gold mining division at Minanca and for working capital.
Based in Perth, Western Australia, De Beira is a gold exploration company.
| Issuer: | De Beira Goldfields Inc.
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| Issue: | Stock
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| Amount: | $2.5 million
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| Shares: | 1.25 million
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| Price: | $2.00
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| Warrants: | One warrant per share
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| Warrant expiration: | Aug. 31, 2008
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| Warrant strike price: | $2.50
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| Pricing date: | Aug. 10
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| Stock symbol: | OTCBB: DBGFE
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| Stock price: | $1.75 at close Aug. 9
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