Deal funds exploration on the Toro project and general working capital
By Devika Patel
Knoxville, Tenn., Dec. 22 - Dawson Gold Corp. said Wednesday that it raised C$200,000 in the second and final tranche of a C$389,000 private placement of units. The offering priced for C$1.2 million on Nov. 17 and took in C$189,000 on Nov. 23.
The company sold 7.78 million units of one common share and one warrant at C$0.05 per unit.
Each 18-month warrant will be exercisable at C$0.10. The strike price is a 233.33% premium to C$0.03, the Nov. 16 closing share price.
Proceeds will be used for exploration on the company's Toro project in the Yukon and for general working capital purposes.
Dawson is a gold exploration company based in Vancouver, B.C.
Issuer: | Dawson Gold Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$389,000
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Units: | 7.78 million
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Price: | C$0.05
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.10
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Agent: | Non-brokered
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Pricing date: | Nov. 17
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Settlement date: | Nov. 23 (for C$189,000), Dec. 21 (for C$200,000)
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Stock symbol: | TSX Venture: DYU
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Stock price: | C$0.03 at close Nov. 16
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Market capitalization: | C$1.02 million
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