By Devika Patel
Knoxville, Tenn., Dec. 1 - African Gold Group, Inc. said it plans a C$5.04 million private placement of units. There is a C$960,000 greenshoe.
The company will sell 8.4 million units at C$0.60 apiece on a bought-deal basis. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.90 for 18 months.
Macquarie Capital Markets Canada Ltd. is the agent. Settlement is expected Dec. 16.
Proceeds will be used for continued development of the Kobada Project and the company's other assets and general working capital and corporate purposes.
African Gold is a gold exploration company based in Toronto.
| Issuer: | African Gold Group, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.04 million
|
| Greenshoe: | C$960,000
|
| Units: | 8.4 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.90
|
| Agent: | Macquarie Capital Markets Canada Ltd.
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 16
|
| Stock symbol: | TSX Venture: AGG
|
| Stock price: | C$0.84 at close Dec. 1
|
| Market capitalization: | C$49.8 million
|
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