Non-brokered offering sells 11,835,000 units with three-year warrants
By Devika Patel
Knoxville, Tenn., Jan. 30 – Gold Canyon Resources Inc. said it has arranged a C$1.3 million non-brokered private placement of units.
The company will sell 11,835,000 units of one common share and one warrant at C$0.11 per unit.
Each three-year warrant will be exercisable at C$0.17, a 13.33% premium to the Jan. 29 closing share price of C$0.15.
Proceeds will be used to fund the Springpole Gold Project and for general working capital purposes.
Gold Canyon is a mineral and precious metals exploration company based in Vancouver, B.C.
| Issuer: | Gold Canyon Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,301,850
|
| Units: | 11,835,000
|
| Price: | C$0.11
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.17
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 30
|
| Stock symbol: | TSX Venture: GCU
|
| Stock price: | C$0.15 at close Jan. 29
|
| Market capitalization: | C$23.77 million
|
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