By Laura Lutz
Des Moines, April 12 - ValGold Resources Ltd. increased the size of its private placement of units to C$3.016 million from C$2.002 million.
The company intends to sell 11.6 million units of one share and one half-share warrant at C$0.26 per unit. Each whole warrant will be exercisable for two years, at C$0.40 in the in first year and at C$0.50 in the second year.
The deal originally priced on March 16 as an offering of up to 7.7 million units. Settlement is expected on April 16.
The deal will be non-brokered.
Proceeds will be used for exploration in Guyana and Venezuela and for working capital.
ValGold is a resource development company based in Vancouver, B.C.
| Issuer: | ValGold Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.016 million
|
| Units: | 11.6 million
|
| Price: | C$0.26
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrants strike price: | C$0.40 in the first year; C$0.50 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | March 16
|
| Amended: | April 12
|
| Stock symbol: | TSX Venture: VAL
|
| Stock price: | C$0.29 at close March 16
|
| Stock price: | C$0.40 at close April 11
|
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