By Sheri Kasprzak
Atlanta, Nov. 12 - Nevada Pacific Gold Ltd. said Friday it has closed its C$7,359,111 private placement.
The company sold a total of 7,586,712 units of one share and one half-share warrant, which included the exercise of the greenshoe for 2,431,712 units. The units were sold for C$0.97 each.
The whole warrants allow for the purchase of an additional share at C$1.20 for one year.
Canaccord Capital Corp. served as underwriter in the deal.
The securities sold in the offering are subject to a four-month hold.
Nevada Pacific Gold, based in Vancouver, B.C., is a gold and silver exploration company. The company plans to use the proceeds from the deal to complete the purchase of the Magistral Gold Mine in Mexico, for fund reserve and resource development work at Magistral, for the advancement of exploration on the company's silver and gold exploration projects in Nevada and for general working capital.
| Issuer: | Nevada Pacific Gold Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$7,359,111
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| Shares: | 7,586,712 units
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| Price: | C$0.97
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.20
|
| Underwriter: | Canaccord Capital Corp.
|
| Settlement date: | Nov. 12
|
| Stock price: | C$0.99 at close Nov. 12
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