By Devika Patel
Knoxville, Tenn., Feb. 23 - Luna Gold Corp. announced it is increasing a non-brokered private placement of stock to C$31.5 million. The offering priced for C$8 million on Jan. 27.
The company will sell the shares at C$0.12 apiece.
Proceeds from the over-subscribed deal will be used to reduce current accounts payable, complete certain works recommended in the Piaba feasibility study and for general corporate 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: | Common shares
|
| Amount: | C$31.5 million
|
| Price: | C$0.12
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Jan. 27
|
| Upsized: | Feb. 23
|
| Stock symbol: | TSX Venture: LGC
|
| Stock price: | C$0.155 at close Jan. 26
|
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