By Devika Patel
Knoxville, Tenn., Oct. 28 - New Guinea Gold Corp. said it will take in C$5 million in a non-brokered private placement of stock.
The company will sell 41,666,666 common shares at C$0.12 per share.
Proceeds will be used for exploration, development and other work on the Weioko and Sinivit properties and for general corporate purposes.
New Guinea Gold is a resource exploration company based in Vancouver, B.C.
| Issuer: | New Guinea Gold Corp.
|
| Issue: | Common stock
|
| Amount: | C$5 million
|
| Shares: | 41,666,666
|
| Price: | C$0.12
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 28
|
| Stock symbol: | TSX Venture: NGG
|
| Stock price: | C$0.12 at close Oct. 27
|
| Market capitalization: | C$20.3 million
|
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