By Sheri Kasprzak
New York, Sept. 28 - Forest Gate Resources Inc. said it has upsized to C$1.3 million its previously announced C$1 million private placement.
The company will now sell 3,421,052 flow-through shares at C$0.38 each.
The deal was first announced Aug. 23 as a C$1 million offering of up to 2,631,579 flow-through shares at C$0.38 each.
Placement agent Northern Securities Inc. has an over-allotment option for up to C$200,000.
Proceeds will be used for exploration on the company's Portage property in the Otish Mountain region of Quebec.
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$1.3 million
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Shares: | 3,421,052
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Greenshoe: | For up to 526,316 shares
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Price: | C$0.38
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Warrants: | No
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Placement agent: | Northern Securities Inc.
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Pricing date: | Aug. 23
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Upsized: | Sept. 28
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Stock price: | C$0.335 at close Aug. 23
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Stock price: | C$0.46 at close Sept. 27
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