By Sheri Kasprzak
Atlanta, Nov. 29 - Goldbelt Resources Ltd. said Wednesday it has sold C$6.5 million in a private placement of units.
The offering consists of 13 million units at C$0.50 each. Each unit is comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.65 per share for one year.
Based in Toronto, Goldbelt Resources is a gold exploration, development and mining company. The company plans to use the proceeds from the deal for the acquisition and feasibility study related to the Inata deposit. The proceeds will also be used for exploration on gold properties in Burkina Faso, which are being acquired from Resolute Mining Ltd.
| Issuer: | Goldbelt Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$6.5 million
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| Shares: | 13 million units
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| Price: | C$0.50
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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$0.65
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| Announcement date: | Nov. 24
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| Stock price: | C$0.50 at close Nov. 24
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