By Susanna Moon
Chicago, June 26 - Firstgold Corp. said is closed its over-subscribed placement of units for $11.3 million, up from the $10 million total announced March 29.
In the second tranche, the company placed 19,729,529 units for $0.45 each for proceeds of $8,878,288.05.
Units consist of one share and one half-share warrant. Each whole warrant is exercisable at $0.65 for 18 months.
D&D Securities Co. and Kingsmill Capital Partners Inc. are placement agents.
"With this capital we have the financial means to implement our exploration and development plan at the Relief Canyon property," Firstgold Corp. chairman and chief executive officer Scott Dockter said in a press release.
Firstgold is a mining company based in Cameron Park, Calif.
Issuer Firstgold Corp.
| Issue: | Units
|
| Amount: | $8,878,288.05 (second tranche), $11.3 million (total)
|
| Units: | 19,729,529 (second tranche)
|
| Price: | $0.45
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $0.65
|
| Agents: | D&D Securities Co., Kingsmill Capital Partners Inc.
|
| Settlement date: | June 26
|
| Stock symbol: | OTCBB: FGOC
|
| Stock price: | $0.60 at close June 25
|
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