By Sheri Kasprzak
Atlanta, June 13 - North American Gold Inc. said it has completed the C$2,198,798 second and final tranche of an oversubscribed private placement.
The most recent closing brings to C$3,576,914 the total proceeds raised through the offering.
In the final tranche, the company sold 2,572,222 units on a brokered basis at C$0.45 each and 2,313,997 on a non-brokered basis at C$0.45 each.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$0.45 each for one year.
Pacific International Securities Inc. was the placement agent in the brokered portion of the offering.
On May 11, the company wrapped the first tranche of the deal, selling 3,062,478 units under the same terms.
The deal was first announced April 4 as a C$2.7 million deal comprised of 6 million units with the same terms.
Based in Vancouver, B.C., North American is a gold exploration company. It plans to use the proceeds to advance the exploration and evaluation of the company's Norra-Barsele project in Sweden. The remainder will be used for working capital.
| Issuer: | North American Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,198,798
|
| Units: | 4,886,219
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
| Placement agent: | Pacific International Securities Inc. (for 2,572,222 units)
|
| Pricing date: | April 4
|
| Settlement date: | June 13
|
| Stock price: | C$0.45 at close April 4
|
| Stock price: | C$0.55 at close June 13
|
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