Deal offers 10 million units of one common share, a half-share warrant
By Devika Patel
Knoxville, Tenn., Jan. 20 - Compass Gold Corp. said it has arranged a non-brokered private placement of units. The offering will take in C$1.2 million.
The company will sell 10 million units at C$0.12 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.20 until April 12, 2012. The strike price represents a 53.85% premium to the Jan. 19 closing share price of C$0.13.
Proceeds will be used for the company's Phase 2 exploration program and general working capital.
The gold mining company is based in Vancouver, B.C.
| Issuer: | Compass Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 10 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 12, 2012
|
| Warrant strike price: | C$0.20
|
| Agents: | Non-brokered
|
| Pricing date: | Jan. 20
|
| Stock symbol: | TSX Venture: CVB
|
| Stock price: | C$0.13 at close Jan. 20
|
| Market capitalization: | C$3.34 million
|
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