By Sheri Kasprzak
New York, April 18 - Vencan Gold Corp. has increased to C$1.6 million the size of its previously announced C$1,025,000 private placement.
The company now plans to sell 10 million flow-through shares at C$0.10 each and up to 6 million units at C$0.10 each.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$0.12 each for two years.
Dundee Securities Corp. is the placement agent for the flow-through shares and 3.75 million units.
The deal priced on April 6 as a C$1,025,000 offering of 6 million flow-through shares and 4.25 million units.
A total of 2.25 million units will be sold on a non-brokered basis.
Proceeds will be used for exploration on the company's properties in Timmins, Ont., as well as for working capital and general corporate purposes.
Vencan, based in Toronto, is a gold exploration company.
| Issuer: | Vencan Gold Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,375,000
|
| Placement agent: | Dundee Securities Corp.
|
| Pricing date: | April 6
|
| Upsized: | April 18
|
| Stock symbol: | TSX Venture: VCG
|
| Stock price: | C$0.11 at close April 6
|
| Stock price: | C$0.135 at close April 18
|
|
|
| Flow-through shares
|
| Shares: | 10 million
|
| Price: | C$0.10
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 3.75 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
|
|
| Issuer: | Vencan Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$225,000
|
| Units: | 2.25 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 6
|
| Upsized: | April 18
|
| Stock symbol: | TSX Venture: VCG
|
| Stock price: | C$0.11 at close April 6
|
| Stock price: | C$0.135 at close April 18
|
|
|
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