By Devika Patel
Knoxville, Tenn., Aug. 21 - High River Gold Mines Ltd. announced it has an agreement with DBM Capital Partners Ltd. for a C$5.75 million non-brokered private placement of units.
The company plans to sell 2.5 million units at C$2.30 apiece. Each unit will consist of one share and one half share warrant. The warrants are exercisable at C$3.10 for two years.
Holders may be forced to convert their warrants if, at any time after the first year, High River's share price closes at C$4.10 per share or higher for 20 consecutive days.
Settlement is expected by Aug. 31.
High River is a gold mining company based in Toronto.
| Issuer: | High River Gold Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5.75 million
|
| Units: | 2.5 million
|
| Price: | C$2.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.10
|
| Agent: | Non-brokered
|
| Investor: | DBM Capital Partners Ltd.
|
| Pricing date: | Aug. 21
|
| Stock symbol: | Toronto: HRG
|
| Stock price: | C$2.27 at close Aug. 21
|
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