By Sheri Kasprzak
Atlanta, Jan. 18 - Randsburg International Gold Corp. closed a private placement for C$1,593,061 - falling short of its previously announced C$1.8 million goal.
The company sold 225,500 flow-through shares at C$2 each and 634,495 non flow-through units at C$1.80 each.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$2.25 each for two years.
The company elected to not raise the entire C$1.8 million as previously planned because of drilling results from its Titan iron-titanium project.
Based in Toronto, Randsburg is a metals, minerals and diamond exploration company. The company plans to use the proceeds from the flow-through shares for exploration on its Titan project and other properties in Ontario. The non flow-through units will be used for exploration and drilling on the company's Elephant Gold-Silver joint venture project in Nevada and for working capital.
| Issuer: | Randsburg International Gold Corp.
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| Issue: | Flow-through shares and non flow-through units of one share and one warrant
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| Amount: | C$1.8 million
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| Announcement date: | Nov. 26
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| Settlement date: | Jan. 18
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| Stock price: | C$2.15 at close Nov. 26
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| Stock price: | C$1.70 at close Jan. 17
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| Flow-through shares
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| Issue: | Flow-through shares
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| Shares: | 225,500
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| Price: | C$2.00
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| Warrants: | No
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| Non flow-through units
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| Issue: | Non flow-through units of one share and one warrant
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| Units: | 634,495
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| Price: | C$1.80
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$2.25
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