Deal funds exploration, expenditures on the company's Lamaque property
By Devika Patel
Knoxville, Tenn., Aug. 2 - Integra Gold Corp. said it will conduct a C$2.8 million non-brokered private placement of units and stock on a best-efforts basis. It has confirmed orders for C$2.5 million of the deal.
The company will sell units of one common share and a half-share warrant at C$0.15 per unit. Each whole warrant will be exercisable at C$0.23 for two years.
Integra Gold will also sell flow-through common shares at C$0.185 apiece.
The price per share is a 15.63% premium to the Aug. 1 closing share price of C$0.16. The warrant strike price is a 43.75% premium to that price.
Settlement of the first tranche is expected Aug. 7, with the offering expected to close on Aug. 30.
Proceeds will be used for exploration, expenditures on the company's Lamaque property and for working capital.
Based in Vancouver, B.C., Integra is a gold and diamond exploration company.
| Issuer: | Integra Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant, flow-through common shares
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| Amount: | C$2.8 million
|
| Agent: | Non-brokered
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| Pricing date: | Aug. 2
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| Settlement date: | Aug. 7, Aug. 30
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| Stock symbol: | TSX Venture: ICG
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| Stock price: | C$0.16 at close Aug. 1
|
| Market capitalization: | C$13.84 million
|
|
|
| Units
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| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.23
|
|
|
| Stock
|
| Price: | C$0.185
|
| Warrants: | No
|
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