By Devika Patel
Knoxville, Tenn., Oct. 27 - High River Gold Mines Ltd. said it plans a private placement of stock for up to C$57 million.
The company will sell 150 million common shares at C$0.38 each to Polenica Investments Ltd.
Proceeds will be used for the repayment of debt, for exploration and general corporate purposes.
High River is a gold-mining company based in Toronto.
| Issuer: | High River Gold Mines Ltd.
|
| Issue: | Common shares
|
| Amount: | C$57 million
|
| Shares: | 150 million
|
| Price: | C$0.38
|
| Warrants: | No
|
| Investor: | Polenica Investments Ltd.
|
| Pricing date: | Oct. 27
|
| Stock symbol: | Toronto: HRG
|
| Stock price: | C$0.40 at close Oct. 26
|
| Market capitalization: | C$250 million
|
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