Proceeds earmarked for final feasibility study at La Bodega project
By Devika Patel
Knoxville, Tenn., Oct. 14 - Ventana Gold Corp. said it arranged a non-brokered private placement of 6.5 million special warrants.
The company will sell the warrants at C$10.00 apiece, a 0.5% discount to the Oct. 13 closing share price of C$10.05, for C$65 million. Each warrant will convert into one common share for no additional consideration.
Proceeds will be used to complete the final feasibility study at the La Bodega project, to fund further exploration drilling, for debt repayment and for general administrative purposes.
"The company has now secured sufficient proceeds to fund its exploration, engineering and development work on the La Bodega project through feasibility," Ventana president and chief executive officer Steve Orr said in a press release.
Vancouver, B.C.-based Ventana is a mineral exploration company.
| Issuer: | Ventana Gold Corp.
|
| Issue: | Special warrants
|
| Amount: | C$65 million
|
| Warrants: | 6.5 million
|
| Price: | C$10.00
|
| Agents: | Non-brokered
|
| Pricing date: | Oct. 14
|
| Stock symbol: | Toronto: VEN
|
| Stock price: | C$10.05 at close Oct. 13
|
| Market capitalization: | C$1.05 billion
|
© 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.
