Deal's proceeds earmarked to maintain company's exploration properties
By Devika Patel
Knoxville, Tenn., April 12 - ValGold Resources Ltd. said it has arranged a C$1.76 million non-brokered private placement of stock.
The company will sell 6.5 million common shares at C$0.27 apiece, an 11.48% discount to the April 11 closing share price of C$0.305.
Settlement is expected April 18.
Proceeds will be used to maintain ValGold's exploration properties and for general working capital.
Vancouver, B.C.-based ValGold is a mining development company focused on exploring gold targets in a portfolio of properties in the Guiana Shield of South America.
Issuer: | ValGold Resources Ltd.
|
Issue: | Common shares
|
Amount: | C$1,755,000
|
Shares: | 6.5 million
|
Price: | C$0.27
|
Warrants: | No
|
Agent: | Non-brokered
|
Pricing date: | April 12
|
Settlement date: | April 18
|
Stock symbol: | TSX Venture: VAL
|
Stock price: | C$0.305 at close April 11
|
Market capitalization: | C$9.42 million
|
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