Deal with Highland Park expected to fund Esaase gold project in Ghana
By Devika Patel
Knoxville, Tenn., Oct. 15 - Keegan Resources Inc. said it will conduct a C$32.49 million private placement of units with Highland Park SA.
The company will sell 9,443,500 units of one common share and one warrant at C$3.44 per unit, with each warrant exercisable at C$4.00 for two years. The strike price is a 9.89% premium to C$3.64, the Oct. 12 closing share price.
Proceeds will enable Keegan to fast track its flagship Esaase gold project in Ghana and emerge as a significant gold producer.
Keegan is a Vancouver, B.C.-based gold exploration and development company.
| Issuer: | Keegan Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$32,485,640
|
| Units: | 9,443,500
|
| Price: | C$3.44
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$4.00
|
| Investor: | Highland Park SA
|
| Pricing date: | Oct. 15
|
| Stock symbol: | Toronto: KGN
|
| Stock price: | C$3.64 at close Oct. 12
|
| Market capitalization: | C$277.29 million
|
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