By Jennifer Chiou
New York, Jan. 27 - High Desert Gold Corp. said it has obtained conditional approval from the TSX Venture Exchange to increase the size of its private placement of common shares to up to C$1,335,480.
The company plans to issue a maximum of 8,346,750 shares at C$0.16 per share.
The initial tranche settled for C$595,000 on Dec. 17. In that tranche, the company issued 3,718,750 shares at C$0.16 apiece.
The first tranche was part of a larger offering for up to 7,812,500 shares, and that financing was oversubscribed, thus prompting the increase.
Settlement for the additional tranche or tranches is slated for Jan. 30.
Vancouver, B.C.-based High Desert is a mineral exploration company.
| Issuer: | High Desert Gold Corp.
|
| Issue: | Common stock
|
| Amount: | Up to C$1,335,480
|
| Shares: | 8,346,750 (maximum)
|
| Price: | C$0.16
|
| Warrants: | No
|
| Settlement date: | Dec. 17 (for C$595,000); Jan. 30
|
| Stock symbol: | TSX: HDG
|
| Stock price: | C$0.19 at close Jan. 26
|
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