By Sheri Kasprzak
New York, Nov. 7 - Asian Dragon Group Inc. settled a $1 million private placement of shares.
The company sold 250,000 shares at $4.00 each on a non-brokered basis. The price per share is a 25% premium to the company's $3.20 closing stock price on Monday.
Proceeds will be used for acquisitions of advanced-stage properties and the start of drilling at the company's recently acquired Jinjishan gold mine in China's Henan Province.
Asian Dragon, based in Luoyang, China, is a gold and precious metals exploration company.
| Issuer: | Asian Dragon Group Inc.
|
| Issue: | Stock
|
| Amount: | $1 million
|
| Shares: | 250,000
|
| Price: | $4.00
|
| Warrants: | No
|
| Settlement date: | Nov. 7
|
| Dealer: | Non-brokered
|
| Stock symbol: | OTCBB: AADG
|
| Stock price: | $3.20 at close Nov. 6
|
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