Proceeds from deal to be used for working capital; Sunel is the agent
By Devika Patel
Knoxville, Tenn., Sept. 19 - Fire River Gold Corp. said it plans a C$5 million private placement of units. Sunel Securities Inc. is the agent.
The company will sell units of one common share and one warrant.
Each warrant is exercisable at C$0.10 for five years. The strike price reflects a 16.67% discount to the Sept. 18 closing share price of C$0.12.
Proceeds will be used for development of the Nixon Fork mine, repaying debt, working capital and general working capital.
Vancouver, B.C.-based Fire River is a gold explorer.
| Issuer: | Fire River Gold Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$5 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Agent: | Sunel Securities Inc.
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| Pricing date: | Sept. 19
|
| Stock symbol: | TSX Venture: FAU
|
| Stock price: | C$0.12 at close Sept. 18
|
| Market capitalization: | C$20.75 million
|
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