By Laura Lutz
Des Moines, Aug. 16 - Tagish Lake Gold Corp. plans to raise the size of a previously announced private placement of units to C$1.1 million from C$800,000 in response to commitments it has received, according to a company release.
In the non-brokered deal, the company will sell units of one flow-through common share and one half of a non-transferable warrant at C$0.18 per unit. Each whole warrant will be exercisable for one non flow-through share at C$0.22 for 18 months.
The company did not specify the exact number of units it plans to sell.
The company also announced a private placement with Canadian Small Cap Resource Fund 2006 No. 1 Ltd. Partnership of up to C$300,000 of flow-through share units at C$0.18 each.
Those units will consist of one flow-through share and one half of one transferable warrant, with each warrant exercisable for one non flow-through share at C$0.22 for 18 months.
Richmond, B.C.-based Tagish Lake is a gold exploration company.
| Issuer: | Tagish Lake Gold Corp.
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| Issue: | Flow-through units of one share and one half-share warrant
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| Amount: | C$1.1 million
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| Price: | C$0.18
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.22
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| Placement agent: | Non-brokered
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| Pricing date: | July 14
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| Amended: | Aug. 16
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| Stock symbol: | TSX Venture: TLG
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| Stock price: | C$0.17 at close July 14
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| Stock price: | C$0.185 at close Aug. 16
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