Company sells 57.5 million shares at $0.01 per share in two tranches
By Devika Patel
Knoxville, Tenn., Dec. 3 - Affinity Gold Corp. completed a $575,000 private placement of stock, according to an 8-K filed Tuesday with the Securities and Exchange Commission. It raised $272,500 on Nov. 26 and $302,500 on Nov. 27.
The company sold 57.5 million common shares at $0.01 per share. The price per share is a 91.67% discount to the Nov. 25 closing share price of $0.12. It sold 27.25 million shares in the first tranche and 30.25 million shares in the second.
The gold explorer is based in Maple Grove, Minn.
| Issuer: | Affinity Gold Corp.
|
| Issue: | Common stock
|
| Amount: | $575,000
|
| Shares: | 57.5 million
|
| Price: | $0.01
|
| Warrants: | No
|
| Pricing date: | Sept. 27
|
| Settlement dates: | Nov. 26 (for $272,500), Nov. 27 (for $302,500)
|
| Stock symbol: | OTCBB: AFYG
|
| Stock price: | $0.12 at close Nov. 25
|
| Market capitalization: | $5.12 million |
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