By Sheri Kasprzak
New York, July 13 - ValGold Resources Ltd. intends to raise up to C$1,545,000.
The offering includes up to 3.5 million flow-through units at C$0.30 each and up to 1.8 million non-flow-through units at C$0.275 each.
The flow-through units consist of one share and one warrant. The whole warrants are exercisable at C$0.40 each for the first year and at C$0.50 each for the second year.
The non flow-through units include one share and one warrant. Each warrant is exercisable at C$0.40 for the first year and C$0.50 for the second year.
Blackmont Capital Inc. is the placement agent.
Proceeds will be used for ongoing exploration on the company's Garrison Township gold project in Ontario. The rest of the proceeds will be used for working capital.
Based in Vancouver, B.C., ValGold is a gold exploration company.
| Issuer: | ValGold Resources Ltd.
|
| Issue: | Flow-through and non-flow-through units of one share and one warrant
|
| Amount: | C$1,545,000
|
| Placement agent: | Blackmont Capital Inc.
|
| Pricing date: | July 13
|
| Stock symbol: | TSX Venture: VAL
|
| Stock price: | C$0.265 at close July 13
|
|
|
| Flow-through units
|
| Units: | 3.5 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 for the first year; C$0.50 for the second year
|
|
|
| Non flow-through units
|
| Units: | 1.8 million
|
| Price: | C$0.275
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 for the first year; C$0.50 for the second year
|
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