By Laura Lutz
Des Moines, May 18 - ValGold Resources Ltd. arranged a private placement of units for up to C$2.94 million.
The company plans to sell up to 8.4 million units of one share and one half-share non-transferable warrant at C$0.35 per unit. Each whole warrant will be exercisable for two years, at C$0.50 in the first year and at C$0.60 in the second year.
The placement will be non-brokered.
Proceeds will be used for exploration and 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 non-transferable warrant
|
| Amount: | C$2.94 million
|
| Units: | 8.4 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50 in the first year; C$0.60 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | May 18
|
| Stock symbol: | TSX Venture: VAL
|
| Stock price: | C$0.47 at close May 17
|
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