Proceeds from non-brokered deal will complete carbon-in-leach circuit
By Devika Patel
Knoxville, Tenn., Nov. 18 - Fire River Gold Corp. said it has completed an initial tranche of a non-brokered private placement of units. The company raised C$5.8 million.
The company sold 12,883,083 units of one common share and a half-share warrant at C$0.45 apiece.
Each whole warrant is exercisable at C$0.65 for 18 months. The strike price reflects a 31.31% premium to the Nov. 17 closing share price of C$0.495.
Proceeds will be used to complete the carbon-in-leach circuit.
Vancouver, B.C.-based Fire River Gold is a mineral resource company.
| Issuer: | Fire River Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$5,797,387
|
| Units: | 12,883,083
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 18
|
| Stock symbol: | TSX Venture: FAU
|
| Stock price: | C$0.495 at close Nov. 18
|
| Market capitalization: | C$29.61 million
|
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