By Sheri Kasprzak
New York, March 7 - Staccato Gold Resources Ltd. said it concluded a C$3 million private placement.
The company issued 5 million units of one share and one half-share warrant at C$0.60 each.
The whole warrants are exercisable at C$0.70 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.00 for more than 10 consecutive trading days.
Bolder Investment Partners, Ltd. was the placement agent for the offering, which was priced as a C$2.4 million offering on Jan. 25.
Proceeds will be used for exploration on the company's South Eureka, Nev., property. The rest will be used for working capital.
Based in Vancouver, B.C., Staccato is a gold exploration company.
| Issuer: | Staccato Gold Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3 million
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| Units: | 5 million
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.70
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| Placement agent: | Bolder Investment Partners, Ltd.
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| Pricing date: | Jan. 25
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| Settlement date: | March 7
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| Stock symbol: | TSX Venture: CAT
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| Stock price: | C$0.70 at close Jan. 25
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| Stock price: | C$1.10 at close March 7
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