Canadian gold explorer offers 12 million units at C$0.35 per unit
By Devika Patel
Knoxville, Tenn., July 6 - Redstar Gold Corp. said it increased a non-brokered private placement of units to C$4.2 million from C$2.8 million. The deal priced June 29.
The company will now sell 12 million units of one common share and one half-share warrant at C$0.35 per unit.
Each whole warrant will be exercisable at C$0.60 for two years. The strike price represents a 55.84% premium to the C$0.385 closing share price on June 28.
Proceeds will be used for exploration on Redstar's recently acquired Alaskan properties and for general corporate matters.
Redstar is a gold exploration company based in Vancouver, B.C.
| Issuer: | Redstar Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4.2 million
|
| Units: | 12 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | June 29
|
| Upsized: | July 6
|
| Stock symbol: | TSX Venture: RGC
|
| Stock price: | C$0.385 at close June 28
|
| Market capitalization: | C$21.5 million
|
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