By Devika Patel
Knoxville, Tenn., April 23 - First Gold Exploration Inc. said it settled a C$2 million non-brokered private placement of units.
The company sold 10 million units at C$0.20 apiece. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.30 for two years.
Proceeds will be used for project development and working capital purposes.
The mineral explorer is based in Laval, Quebec.
| Issuer: | First Gold Exploration Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 10 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | April 23
|
| Stock symbol: | TSX Venture: EFG
|
| Stock price: | C$0.255 at close April 22
|
| Market capitalization: | C$14.7 million
|
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