Deal's proceeds earmarked to maintain company's exploration properties
By Devika Patel
Knoxville, Tenn., April 27 - ValGold Resources Ltd. said it has increased its non-brokered private placement of stock to C$1.83 million from C$1.76 million. The deal priced April 12.
The company will now sell 6,785,000 common shares at C$0.27 apiece, an 11.48% discount to the April 11 closing share price of C$0.305.
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$1,831,950
|
| Shares: | 6,785,000
|
| Price: | C$0.27
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | April 12
|
| Upsized: | April 27
|
| Stock symbol: | TSX Venture: VAL
|
| Stock price: | C$0.305 at close April 11
|
| Market capitalization: | C$8.96 million
|
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