Non-brokered offering sells units with whole warrants at C$0.30 apiece
By Devika Patel
Knoxville, Tenn., Aug. 13 - Evolving Gold Corp. said it has completed a C$3.6 million non-brokered private placement of units.
The company sold 12 million units of one common share and one warrant at C$0.30 per unit.
Each whole warrant is exercisable at C$0.40 until Aug. 13, 2015. The strike price reflects a 53.85% premium to C$0.26, the Aug. 10 closing share price.
Proceeds will be used for exploration of the company's properties in northern Nevada and for general working capital.
"We are very pleased to have completed this financing under current market conditions," chief executive officer Bruce Duncan said in a press release. "These funds will allow Evolving Gold to continue to follow up on the high grade intersections reported earlier from our ongoing drilling program on our Carlin project. They will also allow us to continue to explore our adjacent 100% owned and controlled Humboldt project, also in the south end of the prolific Carlin Gold Trend."
Evolving Gold is a Vancouver, B.C.-based gold explorer.
| Issuer: | Evolving Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.6 million
|
| Units: | 12 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Aug. 13, 2015
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 13
|
| Stock symbol: | Toronto: EVG
|
| Stock price: | C$0.26 at close Aug. 10
|
| Market capitalization: | C$36.14 million
|
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