By Devika Patel
Knoxville, Tenn., June 22 - Reunion Gold Corp. said it raised C$2.11 million in the second and final tranche of a C$5.25 million non-brokered private placement of units. The deal, which priced May 7, was increased from C$5 million on May 28, the date on which the company completed the first tranche for C$3.15 million.
The company sold 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 and 21.05 million units in the second. 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 expores 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), June 22 (for C$2,105,000)
|
| Stock symbol: | TSX Venture: RGD
|
| Stock price: | C$0.10 at close May 6
|
| Market capitalization: | C$10.8 million
|
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