By Devika Patel
Knoxville, Tenn., July 30 - Sutter Gold Mining Inc. announced that it will raise between C$2 million and C$4 million in a non-brokered private placement of units.
The company will sell between 18,181,819 units and 36,363,636 units at C$0.11 per unit.
Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.15 for two years.
U.S. Energy Corp. will buy C$500,000 of the units.
Proceeds will be used to fund further exploration and analysis of the Sutter Gold Mine in California and for general working capital.
Vancouver, B.C.-based Sutter is a gold exploration company.
| Issuer: | Sutter Gold Mining Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million (minimum), C$4 million (maximum)
|
| Price: | C$0.11
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Investor: | U.S. Energy Corp. (for C$500,000)
|
| Pricing date: | July 30
|
| Stock symbol: | TSX Venture: SGM
|
| Stock price: | C$0.13 at close on July 29
|
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