By Devika Patel
Knoxville, Tenn., June 22 - Laurentian Goldfields Ltd. said it plans a C$1.68 million non-brokered private placement of units.
The company plans to sell up to 6.56 million flow-through units at C$0.18 apiece for C$1.18 million. These units each consist of one flow-through common share and one half-share warrant.
The company also will sell up to 3.33 million non flow-through units at C$0.15 apiece for C$499,500. These units consist of one non flow-through common share and one warrant.
The two-year warrants are exercisable at C$0.25 in the first year and at C$0.35 thereafter.
Proceeds will be used for exploration and general working capital purposes.
Laurentian is a junior mineral exploration and development company based in Vancouver, B.C.
| Issuer: | Laurentian Goldfields Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant; units of one non flow-through common share and one warrant
|
| Amount: | C$1,680,300
|
| Agent: | Non-brokered
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25 in the first year, C$0.35 thereafter
|
| Pricing date: | June 22
|
| Stock symbol: | TSX Venture: LGF
|
| Stock price: | C$0.20 at close June 22
|
| Market capitalization: | C$4.22 million
|
|
|
| Flow-through units
|
| Amount: | C$1,180,800
|
| Units: | 6.56 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
|
|
|
|
| Non flow-through units
|
| Amount: | C$499,500
|
| Units: | 3.33 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
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