By Devika Patel
Knoxville, Tenn., May 28 - Reunion Gold Corp. said it has closed the first tranche of a non-brokered private placement of units, raising C$3.15 million. The deal, which priced May 7, has also been increased to C$5.25 million from C$5 million.
The company is selling 52.5 million units of one common share and one warrant at C$0.10 each. It sold 31.45 million units in the first tranche. The warrants are exercisable at C$0.20 for two years.
Proceeds will allow the company to strengthen its financial position and provide it with the financial capability to pursue different opportunities.
Based in Longueuil, Quebec, Reunion Gold acquires and explores mineral properties.
| Issuer: | Reunion Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5.25 million
|
| Units: | 52.5 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | May 7
|
| Upsized: | May 28
|
| Settlement date: | May 28 (for C$3,145,000)
|
| Stock symbol: | TSX Venture: RGD
|
| Stock price: | C$0.10 at close May 6
|
| Market capitalization: | C$7.35 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
