Proceeds fund exploration of company's properties in Central America
By Devika Patel
Knoxville, Tenn., June 8 - Radius Gold Inc. said it has increased a non-brokered private placement of units to C$3.6 million from C$3 million. The deal priced June 1.
The company will now sell 6 million units of one common share and a half-share warrant at C$0.60 apiece.
Each whole warrant is exercisable at C$0.75 for one year. The strike price reflects a 10.29% premium to the closing share price of C$0.68 on May 31.
Proceeds will be used for exploration of the company's properties in Central America and for general working capital purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Radius Gold Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3.6 million
|
| Units: | 6 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | June 1
|
| Upsized: | June 8
|
| Stock symbol: | TSX Venture: RDU
|
| Stock price: | C$0.68 at close June 1
|
| Market capitalization: | C$48.88 million
|
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