By Laura Lutz
Des Moines, May 11 - Gold Summit Corp. plans to raise up to C$2.025 million from a private placement of units.
The non-brokered placement will consist of up to 13.5 million units of one share and one warrant at C$0.15 per unit. Each warrant will be exercisable at C$0.25 for 18 months.
There is a greenshoe for up to 25% of the placement size.
Most of the proceeds will be used for drilling.
Gold Summit is a resource exploration company based in Reno, Nev.
| Issuer: | Gold Summit Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.025 million
|
| Units: | 13.5 million
|
| Greenshoe: | For up to 25%
|
| Price: | C$0.15
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 11
|
| Stock symbol: | TSX Venture: GSM
|
| Stock price: | C$0.15 at close May 11
|
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