By Caroline Salls
Pittsburgh, Dec. 22 - Dynasty Gold Corp. said Tuesday it raised C$1.85 million in a private placement.
The company issued 4.5 million units of common shares and warrants at C$0.41 each.
Each unit includes one common share and a warrant for 0.5 of a common share, exercisable for two years at C$0.70.
Closing is subject to Caledon Resources plc, the investor, completing legal due diligence. Caledon is a U.K.-based resource exploration company.
Based in Vancouver, Dynasty Gold is a junior resource company focused on acquiring, exploring and developing gold prospects in China. It plans to use the proceeds from the financing to fund the exploration and development of Dynasty's projects in China.
Issuer: | Dynasty Gold Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.85 million
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Shares: | 4.5 million units
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Price: | C$0.41
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.70
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Announcement date: | Dec. 21
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Investor: | Caledon Resources plc
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Settlement date: | Subject to Caledon Resources plc completing legal due diligence
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Stock price: | C$0.45 at close Dec. 21
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