Eldorado Gold buys 52,058,200 shares at C$0.28, to hold 15% of stock
By Devika Patel
Knoxville, Tenn., Aug. 18 – Integra Gold Corp. said it plans a C$14.58 million non-brokered private placement of stock with Eldorado Gold Corp.
The company will sell 52,058,200 common shares at C$0.28 per share, a 3.7% premium to the Aug. 17 closing share price of C$0.27. As a result, Eldorado will hold 15% of Integra’s outstanding common shares on an undiluted basis.
The subscription price also represents an 11% premium to the 20-day volume weighted average price of the stock on Aug. 17, the company noted in a press release.
Settlement is expected Aug. 31.
Proceeds will be used for exploration and development of the Triangle Zone at the Lamaque Project, including economic studies, and general corporate purposes.
Based in Vancouver, B.C., Integra is a gold and diamond exploration company.
Issuer: | Integra Gold Corp.
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Issue: | Common stock
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Amount: | C$14,576,296
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Shares: | 52,058,200
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Price: | C$0.28
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Warrants: | No
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Agent: | Non-brokered
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Investor: | Eldorado Gold Corp.
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Pricing date: | Aug. 18
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Settlement date: | Aug. 31
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Stock symbol: | TSX Venture: ICG
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Stock price: | C$0.27 at close Aug. 17
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Market capitalization: | C$67.24 million
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