By Sheri Kasprzak
New York, Jan. 13 - Golden Queen Mining Co. Ltd. said it has priced a C$3.6 million private placement.
The offering includes 7.2 million units at C$0.50 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.60 each for two years.
Proceeds will be used for the update of the company's geological model and mine design, permit costs and general corporate purposes.
Vancouver, B.C.-based Golden Queen is a gold exploration company.
| Issuer: | Golden Queen Mining Co. Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$3.6 million
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| Units: | 7.2 million
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| Price: | C$0.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.60
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| Settlement date: | Jan. 13
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| Stock symbol: | Toronto: GQM
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| Stock price: | C$0.56 at close Jan. 13
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