Non-brokered deal funds exploration expenditures on Corongo property
By Devika Patel
Knoxville, Tenn., Dec. 13 - Viper Gold Ltd. said it has increased and adjusted the warrant exercise price for a non-brokered private placement of units. The deal priced for C$1 million on Nov. 17 and will now raise C$1.5 million.
The company will sell 6 million units at C$0.25 apiece for C$1.5 million. Each unit consists of one common share and one warrant. Each two-year warrant will be exercisable at C$0.30, decreased from C$0.40, which was a 33.33% premium to the Nov. 16 closing share price of C$0.30.
Settlement is expected Dec. 15.
Proceeds will be used for exploration expenditure requirements on the Corongo property in Peru and for general working capital.
Viper is a gold exploration company based in Toronto.
| Issuer: | Viper Gold Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 17
|
| Upsized: | Dec. 13
|
| Settlement date: | Dec. 15
|
| Stock symbol: | TSX Venture: VPR
|
| Stock price: | C$0.30 at close Nov. 16
|
| Market capitalization: | C$1.64 million
|
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