By Laura Lutz
Des Moines, May 25 - Luiri Gold Ltd. settled a private placement of units for C$4 million.
The company sold 11,764,705 units of one share and one half-share warrant at C$0.34 per unit. Each whole warrant will be exercisable at C$0.51 for two years.
Strata Capital UK LLP was the agent.
Proceeds will be used for the company's Luiri Hills project in Zambia and to pursue the company's strategy to become a "geographically diversified African gold resource company," according to a news release.
Luiri is based in Toronto.
| Issuer: | Luiri Gold Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4 million
|
| Units: | 11,764,705
|
| Price: | C$0.34
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.51
|
| Agent: | Strata Capital UK LLP
|
| Settlement date: | May 25
|
| Stock symbol: | TSX Venture: LGL
|
| Stock price: | C$0.70 at close May 24
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
