Offering's proceeds used for the development of Condor Gold project
By Devika Patel
Knoxville, Tenn., Nov. 26 - Ecuador Gold & Copper Corp. said it has arranged a $2.5 million private placement of units.
The company will sell 11,904,762 units of one common share and one half-share warrant at $0.21 per unit. Each whole warrant is exercisable at $0.35 for three years.
Proceeds will be used for exploration and development of the Condor gold project and general working capital purposes.
The metals explorer is based in Vancouver, B.C.
| Issuer: | Ecuador Gold & Copper Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $2.5 million
|
| Units: | 11,904,762
|
| Price: | $0.21
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.35
|
| Pricing date: | Nov. 26
|
| Stock symbol: | TSX Venture: EGX
|
| Stock price: | C$0.08 at close Nov. 23
|
| Market capitalization: | C$7.66 million
|
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