Non-brokered deal funds exploration of properties, working capital
By Devika Patel
Knoxville, Tenn., March 25 - F.D.G Mining Inc. said it settled a C$3.06 million non-brokered private placement of units. The deal priced for between C$2 million and C$3 million on Feb. 26.
The company sold 30.55 million units of one common share and one warrant at C$0.10 per unit. Each warrant will be exercisable at C$0.12 for two years. The strike price is identical to the Feb. 25 closing share price.
Proceeds will be used for exploration and development of the company's mineral properties in Nicaragua, general working capital and corporate purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | F.D.G Mining Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3,055,000
|
| Units: | 30.55 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 25
|
| Stock symbol: | TSX Venture: FDG
|
| Stock price: | C$0.12 at close Feb. 25
|
| Market capitalization: | C$7.29 million
|
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