By Sheri Kasprzak
Atlanta, Dec. 27 - Vannessa Ventures Ltd. said it has closed a C$1,537,760 first tranche of a previously announced C$2 million private placement.
The company sold 4,805,500 units at C$0.32 each.
The units include one share and one warrant. The warrants allow for an additional share at C$0.40 each for two years.
The investor in the first tranche was Exploram Enterprises Ltd.
A second tranche of 1,444,500 units is expected to close soon.
Based in Calgary, Alta., Vannessa is a gold and diamond acquisition, exploration, development and mining company. It plans to use the proceeds from the deal for exploration and development work in Guyana and Costa Rica and for general working capital.
| Issuer: | Vannessa Ventures Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,537,760
|
| Shares: | 4,805,500 units
|
| Price: | C$0.32
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Announcement date: | Dec. 1
|
| Settlement date: | Dec. 24
|
| Stock price: | C$0.40 at close Dec. 1
|
| Stock price: | C$0.395 at close Dec. 24
|
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