By Sheri Kasprzak
New York, March 7 - Nevada Pacific Gold Ltd. said it has settled the first tranche of a C$5 million private placement with Robert McEwen for C$2,768,485.
McEwen sold 6,921,213 units at C$0.40 each.
The units include one share and one warrant. The warrants are exercisable at C$0.50 each for two years.
McEwen agreed to buy another 5,578,787 units in a second tranche.
Based in Vancouver, B.C., Nevada Pacific is a gold and silver exploration company.
| Issuer: | Nevada Pacific Gold Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,768,485
|
| Units: | 6,921,213
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Investor: | Robert McEwen
|
| Settlement date: | March 7
|
| Stock symbol: | TSX Venture: NPG
|
| Stock price: | C$1.25 at close March 7
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