By Laura Lutz
Des Moines, June 1 - ValGold Resources Ltd. settled an oversubscribed private placement of units for C$3,111,850, up from the C$2.94 maximum deal size announced on May 18.
The company sold 8.891 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 is 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$3,111,850
|
| Units: | 8.891 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
|
| Settlement date: | June 1
|
| Stock symbol: | TSX Venture: VAL
|
| Stock price: | C$0.47 at close May 17
|
| Stock price: | C$0.55 at close May 31
|
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