Deal sells 21,428,856 units with two-year warrants at C$0.07 per unit
By Devika Patel
Knoxville, Tenn., Sept. 5 - African Gold Group, Inc. said it settled a C$1.5 million non-brokered private placement of units.
The company sold 21,428,856 units of one common share and a half-share warrant at C$0.07 per unit. Each whole warrant will be exercisable at C$0.12 until Sept. 4, 2015. The warrant strike price is a 20% premium to the Sept. 4 closing share price of C$0.10.
Proceeds will be used for African Gold's feasibility study for its Kobada, Mali gold project and for general corporate purposes.
African Gold is a gold exploration company based in Toronto.
| Issuer: | African Gold Group, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 21,428,856
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Sept. 4, 2015
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Settlement date: | Sept. 5
|
| Stock symbol: | TSX Venture: AGG
|
| Stock price: | C$0.10 at close Sept. 4
|
| Market capitalization: | C$11.56 million
|
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