Non-brokered offering slated to fund property, royalty acquisitions
By Devika Patel
Knoxville, Tenn., Aug. 19 – Ely Gold & Minerals Inc. announced it will conduct a C$1.12 million non-brokered private placement of units.
The company will sell 8 million units of one common share and one half-share warrant at C$0.14 per unit. Each whole warrant is exercisable at C$0.20 for two years. The strike price represents a 33.33% premium to the Aug. 7 closing share price of C$0.15.
Proceeds will be used for property and royalty acquisitions and general corporate expenses.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Ely Gold & Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.12 million
|
| Units: | 8 million
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 19
|
| Stock symbol: | TSX Venture: ELY
|
| Stock price: | C$0.15 at close Aug. 18
|
| Market capitalization: | C$11.3 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
