By Sheri Kasprzak
New York, April 2 - Paramount Gold Mining Corp. wrapped a private placement for $21,836,841, including a fully exercised over-allotment option.
The company sold 10,398,496 units at $2.10 each, including the greenshoe for 319,710 units exercised by a syndicate of agents led by Blackmont Capital Inc.
The units consist of one share and one half-share warrant with each whole warrant exercisable at $2.90 through March 29, 2009.
The other agents in the syndicate were Haywood Securities Inc., Canaccord Capital Corp. and Raymond James Ltd.
Proceeds will be used for ongoing drilling and exploration at the company's Mexican and South American properties.
Paramount, based in Ottawa, is a gold exploration company.
Issuer: | Paramount Gold Mining Corp.
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Issue: | Units of one share and one half-share warrant
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Amount: | $21,836,841
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Units: | 10,398,496 (includes greenshoe for 319,710 units)
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Price: | $2.10
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Warrants: | One half-share warrant per unit
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Warrant expiration: | March 29, 2009
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Warrant strike price: | $2.90
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Placement agents: | Blackmont Capital Inc. (lead), Haywood Securities Inc., Canaccord Capital Corp., Raymond James Ltd.
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Settlement date: | March 30
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Stock symbol: | OTCBB: PGDP
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Stock price: | $3.04 at close March 30
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