By Sheri Kasprzak
New York, Aug. 23 - Forest Gate Resources Inc. said it plans to raise up to C$1 million in a private placement.
The offering includes up to 2,631,579 flow-through shares at C$0.38 each.
Northern Securities Inc. is the placement agent.
The proceeds will be used for development on the company's diamond exploration projects.
The deal is slated to close on Sept. 16.
Based in Montreal, Forest Gate is a mineral exploration company.
| Issuer: | Forest Gate Resources Inc.
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| Issue: | Flow-through shares
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| Amount: | C$1 million (maximum)
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| Shares: | 2,631,579 (maximum)
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| Price: | C$0.38
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| Warrants: | No
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| Placement agent: | Northern Securities Inc.
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 16
|
| Stock price: | C$0.335 at close Aug. 23
|
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