By Sheri Kasprzak
New York, Dec. 19 - Acadian Gold Corp. said it has arranged a private placement for C$2,658,500.
The non-brokered offering includes up to 33,333,333 flow-through shares at C$0.27 each and up to 7,034,000 units at C$0.25 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.35 each for 18 months.
The offering is expected to close Dec. 21.
Proceeds will be used for the development of projects in Nova Scotia and for working capital.
Based in Calgary, Alta., Acadian is a gold exploration company.
Issuer: | Acadian Gold Corp.
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Issue: | Flow-through shares and units of one share and one half-share warrant
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Amount: | C$2,658,500 (maximum)
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Placement agent: | Non-brokered
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Pricing date: | Dec. 19
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Settlement date: | Dec. 21
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Stock price: | C$0.34 at close Dec. 19
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Flow-through shares
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Shares: | 3,333,333 (maximum)
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Price: | C$0.27
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Warrants: | No
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Units
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Units: | 7,034,000 (maximum)
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Price: | C$0.25
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.35
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