By Devika Patel
Knoxville, Tenn., March 12 - Firstgold Corp. said it settled the second and final tranche of a $6.46 million private placement of units with D&D Securities Co., raising $3.14 million. The deal priced for $6 million on Feb. 15 and the company raised $3.31 million from the first tranche on March 3.
The company sold a total of 9,931,113 units at $0.65 apiece. It sold 5,094,193 units in the first tranche and 4,836,920 units in this tranche.
Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at $0.80 for 18 months.
Proceeds will be used to finance activities at Firstgold's Relief Canyon Mine project, for exploration activities at its leased properties and for general corporate purposes.
Firstgold is a mining company based in Cameron Park, Calif.
| Issuer: | Firstgold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $6,455,223.45
|
| Units: | 9,931,113
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Agent: | D&D Securities Co.
|
| Pricing date: | Feb 15
|
| Settlement date: | March 3 (for $3,311,225.45), March 12 (for $3,143,998)
|
| Stock symbol: | OTCBB: FGOC
|
| Stock price: | $0.66 at close Feb. 15
|
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