By Sheri Kasprzak
New York, Sept. 1 - Tournigan Gold Corp. said it plans to raise C$2 million in a private placement of units
The company plans to sell 5 million units at C$0.40 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.55 each for two years.
The company may force the exercise of the warrants if its stock trades above C$1.00 for 30 consecutive trading days.
The latest offering is in addition to a C$2 million non-brokered deal the company announced on Aug. 23.
The proceeds from the most recent offering will be used to fund work at Tournigan's advanced projects.
Based in Vancouver, B.C., Tournigan is a gold and uranium exploration company.
| Issuer: | Tournigan Gold Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2 million
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| Units: | 5 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.55
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| Pricing date: | Sept. 1
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| Stock price: | C$0.38 at close Aug. 31
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