Proceeds fund exploration of gold projects, general working capital
By Devika Patel
Knoxville, Tenn., Nov. 28 - La Ronge Gold Corp. said it increased a private placement of units to C$1.09 million from C$980,000 on Nov. 24. The deal priced Oct. 18 and will now sell 4,076,333 units.
The company is selling units of one common share and a warrant at C$0.25 per unit and flow-through units of one flow-through common share and a warrant at C$0.30 per unit.
Each warrant is exercisable at C$0.40 for two years. The strike price reflects a 60% premium to the closing share price of C$0.25 on Oct. 17.
Proceeds will be used for exploration on gold projects and general working capital.
The gold explorer is based in Vancouver, B.C.
| Issuer: | La Ronge Gold Corp.
|
| Issue: | Units of one common share and a warrant, flow-through units of one flow-through common share and a warrant
|
| Amount: | C$1,088,400
|
| Units: | 4,076,333
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Oct. 18
|
| Upsized: | Nov. 24
|
| Stock symbol: | TSX Venture: LAR
|
| Stock price: | C$0.24 at close Oct. 18
|
| Market capitalization: | C$3.94 million
|
|
|
| Units
|
| Price: | C$0.25
|
|
|
| Flow-through units
|
| Price: | C$0.30
|
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