Gold producer and explorer sells units at C$1.00 each to Sam Magid
By Devika Patel
Knoxville, Tenn., Nov. 24 - Goldgroup Mining Inc. said it plans a private placement of units. Sam Magid will invest C$3 million.
The company will sell 3 million units of one common share and one warrant at C$1.00 apiece to Magid.
Each warrant is exercisable at C$1.25 for five years. The strike price is a 14.68% premium to $1.09, the Nov. 23 closing share price.
The gold production and exploration company is based in Vancouver, B.C.
| Issuer: | Goldgroup Mining Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 3 million
|
| Price: | C$1.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$1.25
|
| Investor: | Sam Magid
|
| Settlement date: | Nov. 24
|
| Stock symbol: | Toronto: GGA
|
| Stock price: | C$1.19 at close Nov. 24
|
| Market capitalization: | C$101.32 million
|
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