Proceeds slated for exploration and development at Table Mountain Mine
By Devika Patel
Knoxville, Tenn., March 23 - Hawthorne Gold Corp. said it settled the second tranche of a C$10.17 million non-brokered private placement of stock. The deal priced for C$10 million Oct. 14 and the company raised C$2.62 million on Nov. 12 and C$7.56 million in the latest and final closing.
The company sold 92,485,454 common shares at C$0.11 per share. It sold 23,803,636 shares in the first tranche and 68,681,818 shares in the second tranche. The price per share is a 33.33% discount to the Oct. 13 closing share price of C$0.165.
Skyocean Ventures Investment Ltd. invested the full C$7.56 million in the second tranche.
Proceeds will be used for exploration and development at the Table Mountain Mine, as well as for general corporate and working capital purposes.
Hawthorne Gold is a gold exploration and development company based in Vancouver, B.C.
| Issuer: | Hawthorne Gold Corp.
|
| Issue: | Common shares
|
| Amount: | C$10,173,400
|
| Shares: | 92,485,454
|
| Price: | C$0.11
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Investor: | Skyocean Ventures Investment Ltd. (for C$7,555,000)
|
| Pricing date: | Oct. 14
|
| Settlement date: | Nov. 12 (for C$2,618,400), March 23 (for C$7,555,000)
|
| Stock symbol: | TSX Venture: HGC
|
| Stock price: | C$0.165 at close Oct. 13
|
| Market capitalization: | C$11.91 million
|
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