Deal's proceeds fund exploration of the company's properties in Europe
By Devika Patel
Knoxville, Tenn., Sept. 16 - Medgold Resources Corp. said it plans a C$1.2 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.06 per unit.
Each whole warrant will be exercisable at C$0.10 for one year. The strike price is a 25% premium to the Sept. 13 closing share price of C$0.08.
Proceeds will be used for exploration of the company's properties in Europe and general working capital purposes.
The precious and base metals explorer is based in Vancouver, B.C.
| Issuer: | Medgold Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 20 million
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 16
|
| Stock symbol: | TSX Venture: MED
|
| Stock price: | C$0.08 at close Sept. 13
|
| Market capitalization: | C$3.93 million
|
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