By Sheri Kasprzak
New York, July 21 - River Gold Mines Ltd. said it has completed a scaled-down private placement for C$3.5 million.
The company sold 3.5 million units at C$1.00 each.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$1.20 each for one year.
Westwind Partners Inc. led a syndicate of placement agents that also included Research Capital Corp., Pollitt and Co. Inc. and Loewen Ondaatje McCutcheon Ltd. The syndicate had an over-allotment option for up to C$1 million but did not exercise it.
The deal was first announced June 9 as a C$4 million deal under the same terms.
Based in Toronto, River is a gold exploration company. The proceeds will be used for work on the company's Eagle River mine and for general corporate purposes.
| Issuer: | River Gold Mines Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3.5 million
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| Units: | 3.5 million
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| Price: | C$1.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.20
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| Placement agents: | Westwind Partners Inc. (lead); Research Capital Corp.; Pollitt and Co. Inc. and Loewen Ondaatje McCutcheon Ltd. |
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| Pricing date: | June 9
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| Settlement date: | July 21
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| Stock price: | C$1.00 at close July 21
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