By Devika Patel
Knoxville, Tenn., March 20 - Linear Gold Corp. said it settled a C$5 million private placement of units. The deal priced March 13.
The company will sell 4,545,455 units at C$1.10 apiece. The units consist of one common share and one half-share warrant with each whole two-year warrant exercisable at C$1.50.
Sprott Asset Management was the agent.
Proceeds will be used for working capital and to fund the acquisition, exploration and development of high-quality gold-focused assets.
Linear, based in Halifax, N.S., is a gold exploration and acquisition company.
| Issuer: | Linear Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 4,545,455
|
| Price: | C$1.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Agent: | Sprott Asset Management
|
| Pricing date: | March 13
|
| Settlement date: | March 20
|
| Stock symbol: | Toronto: LRR
|
| Stock price: | C$1.01 at close March 12
|
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