By Devika Patel
Knoxville, Tenn., Oct. 31 - Luna Gold Corp. announce it has arranged a C$2 million non-brokered private placement of units.
The company will sell 20 million units at C$0.10 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for two years.
The warrants may expire sooner if the company's shares close at C$0.40 or higher for 15 consecutive trading days. In that case, the warrants will expire on the 15th business day after the company notifies holders.
Proceeds will be used to reduce current accounts payable and for working capital purposes.
Vancouver, B.C.-based Luna is a gold exploration and development company focused on projects in Brazil and Nevada.
| Issuer: | Luna Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agents: | Non-brokered
|
| Pricing date: | Oct. 31
|
| Stock symbol: | TSX Venture: LGC
|
| Stock price: | C$0.135 at close Oct. 30
|
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