By Sheri Kasprzak
New York, March 1 - Gateway Gold Corp. said it intends to raise, on a non-brokered basis, up to C$10 million in a private placement.
The deal includes up to 8 million units at C$1.25 each.
The units consist of one share and one half-share warrant. Each warrant is exercisable at C$1.60 for one year.
Proceeds will be used for exploration on the company's Nevada gold properties, as well as for working capital.
Based in Vancouver, B.C., Gateway is a gold exploration company.
| Issuer: | Gateway Gold Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$10 million (maximum)
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| Units: | 8 million (maximum)
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| Price: | C$1.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.60
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| Placement agent: | Non-brokered
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| Pricing date: | March 1
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| Stock symbol: | TSX Venture: GTQ
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| Stock price: | C$1.54 at close March 1
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