Proceeds from non-brokered offering will supplement working capital
By Devika Patel
Knoxville, Tenn., March 4 - Fire River Gold Corp. said it plans a non-brokered private placement of units. The deal will take in C$7 million.
The company will sell 14 million units of one common share and a half-share warrant at C$0.50 apiece.
Each whole warrant is exercisable at C$0.70 for 18 months. The strike price reflects a 25% premium to the March 3 closing share price of C$0.56.
Proceeds will be used to supplement the company's working capital budget by covering the operating costs as the Nixon Fork Gold Mine Project ramps up to full production, to evaluate and expand the exploration drilling program and to review potential acquisitions.
Vancouver, B.C.-based Fire River Gold is a gold explorer.
| Issuer: | Fire River Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$7 million
|
| Units: | 14 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.70
|
| Agent: | Non-brokered
|
| Pricing date: | March 4
|
| Stock symbol: | TSX Venture: FAU
|
| Stock price: | C$0.56 at close March 3
|
| Market capitalization: | C$42.99 million
|
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