Funds used for expansion scoping study, resource definition expansion
By Devika Patel
Knoxville, Tenn., Sept. 30 - Luna Gold Corp. said it settled a C$12.35 million private placement of units through lead agent Celfin Capital SA SAB. The deal was announced Sept. 2 and priced for C$20 million on Sept. 22.
The company sold 23,749,338 units of one common share and one half-share warrant at C$0.52 per unit to investors in South America. Each whole warrant will be exercisable at C$0.70 until Sept. 29, 2013. The strike price reflects a 37.26% premium to the Sept. 21 closing share price of C$0.51.
Proceeds will be used for the Aurizona expansion scoping study, Aurizona resource definition expansion, Maranhao Greenfields discovery exploration, Cachoeira social impact study, corporate development, debt reduction and 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: | Units of one common share and a half-share warrant
|
| Amount: | C$12,349,656
|
| Units: | 23,749,338
|
| Price: | C$0.52
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Sept. 29, 2013
|
| Warrant strike price: | C$0.70
|
| Agent: | Celfin Capital SA SAB (lead)
|
| Announcement date: | Sept. 2
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 30
|
| Stock symbol: | TSX Venture: LGC
|
| Stock price: | C$0.51 at close Sept. 21
|
| Market capitalization: | C$218.44 million
|
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