Proceeds to be used for company's work programs, corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 3 - Renaissance Gold Inc. said it has arranged a non-brokered private placement of units. It will raise C$7.7 million.
The company will sell 5.13 million units of one common share and a half-share warrant at C$1.50 apiece.
Each whole warrant is exercisable at C$2.00 for one year. The strike price reflects a 23.46% premium to the closing share price of C$1.62 on Feb. 2.
Proceeds will be used to fund the company's work programs and for general corporate purposes.
Vancouver, B.C.-based Renaissance explores for gold.
| Issuer: | Renaissance Gold Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$7,695,000
|
| Units: | 5.13 million
|
| Price: | C$1.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$2.00
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 3
|
| Stock symbol: | TSX Venture: REN
|
| Stock price: | C$1.62 at close Feb. 2
|
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