Deal to consist of 12 million shares to fund expenses, lease deposits
By Devika Patel
Knoxville, Tenn., April 27 – New Gold Discoveries, Inc. priced its $3 million initial public offering of stock, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission.
The company will sell 12 million common shares at $0.25 per share.
Proceeds will be used for general administrative expenses, lease deposits, equipment purchases, salaries and working capital.
The San Juan Capistrano, Calif., company explores gold claims in Alaska. It plans to list its stock on the OTCBB exchange.
| Issuer: | New Gold Discoveries, Inc.
|
| Issue: | Common stock
|
| Amount: | $3 million
|
| Shares: | 12 million
|
| Price: | $0.25
|
| Warrants: | No
|
| Pricing date: | April 27
|
| Stock exchange: | OTCBB
|
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