Agent syndicate helps raise funding for exploration, working capital
By Devika Patel
Knoxville, Tenn., Nov. 15 - Taku Gold Corp. said it increased a private placement of units that priced on Nov. 12. A syndicate of agents, co-led by Fraser Mackenzie Ltd. and Union Securities Ltd., will assist the company in raising C$7 million on a best-efforts basis. The company originally planned to raise C$5 million.
Taku Gold will now sell up to 11.06 million units of one common share and one warrant at C$0.38 apiece for C$4.2 million and up to 6.68 million flow-through units of one flow-through common share and one half-share warrant at C$0.42 apiece for C$2.81 million.
Each whole two-year warrant will be exercisable at C$0.65, a 64.56% premium to the Nov. 11 closing share price of C$0.395.
Settlement is expected on Dec. 10.
Proceeds will be used for exploration and general working capital purposes.
The mineral explorer is based in Vancouver, B.C.
| Issuer: | Taku Gold Corp.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$7 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Agent: | Fraser Mackenzie Ltd. and Union Securities Ltd. (co-leads)
|
| Pricing date: | Nov. 12
|
| Upsized: | Nov. 15
|
| Settlement date: | Dec. 10
|
| Stock symbol: | TSX Venture: TAK
|
| Stock price: | C$0.395 at close Nov. 11
|
| Market capitalization: | C$8.1 million
|
|
|
| Units
|
| Amount: | C$4,202,800
|
| Units: | 11.06 million
|
| Price: | C$0.38
|
| Warrants: | One warrant per unit
|
|
|
| Flow-through units
|
| Amount: | C$2,805,600
|
| Units: | 6.68 million
|
| Price: | C$0.42
|
| Warrants: | One half-share warrant per unit
|
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