By Sheri Kasprzak
New York, Sept. 7 - Vedron Gold Inc. said it has arranged a private placement for C$1.25 million.
The company will issue 5 million units at C$0.25 each to Sprott Asset Management.
Vedron currently has 49,308,947 common shares outstanding.
The units are composed of one share and one half-share warrant. The whole warrants are exercisable at C$0.35 each for 18 months.
The proceeds will be used for exploration on the company's Ontario mineral properties. The rest will be used for working capital.
Based in Toronto, Vedron is a gold exploration company.
| Issuer: | Vedron Gold Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.25 million
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| Units: | 5 million
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.35
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| Investor: | Sprott Asset Management
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| Announcement date: | Sept. 7
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| Stock price: | C$0.255 at close Sept. 7
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