Company also acquires a 39.5% stake in the Sidace Lake gold property
By Devika Patel
Knoxville, Tenn., Aug. 19 – TomaGold Corp. said it will raise C$2 million in an offering of 10% convertible secured debentures.
The convertible debentures mature in two years and will be convertible into units of one common share and a half-share warrant at C$0.15 per unit.
The whole, two-year warrants will be exercisable at C$0.20, which is a 42.86% premium to the Aug. 18 closing share price of C$0.14. The debenture conversion price is a 7.14% premium to that price.
TomaGold also said it acquired a 39.5% stake in the Sidace Lake gold property from Planet Exploration Inc. in exchange for 15 million shares.
The gold explorer is based in Montreal.
| Issuer: | TomaGold Corp.
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| Issue: | Convertible secured debentures
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| Amount: | C$2 million
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| Maturity: | Two years
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| Coupon: | 10%
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| Conversion premium: | 7.14%
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| Conversion price: | C$0.15
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| Warrants: | One half-share warrant per unit upon conversion
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.20
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| Pricing date: | Aug. 19
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| Stock symbol: | TSX Venture: LOT
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| Stock price: | C$0.14 at close Aug. 18
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| Market capitalization: | C$13.28 million
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