Non-brokered deal sells 5,535,909 common share units at C$0.20 apiece
By Devika Patel
Knoxville, Tenn., Aug. 13 – Goldgroup Mining Inc. said it raised C$1.11 million in the first tranche of a non-brokered private placement of units on Tuesday. The deal priced for C$1 million on July 29.
The company sold 5,535,909 units of one common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.25 for two years. The strike price reflects a 57.9% premium to the July 28 closing share price of C$0.19.
Settlement of the second tranche is expected Aug. 29.
Proceeds will be used for working capital.
The gold production and exploration company is based in Vancouver, B.C.
| Issuer: | Goldgroup Mining Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,107,182
|
| Units: | 5,535,909
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 12 (for C$1,107,182), Aug. 29
|
| Stock symbol: | Toronto: GGA
|
| Stock price: | C$0.19 at close July 28
|
| Market capitalization: | C$26.61 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.
