By Sheri Kasprzak
New York, July 7 - Entrée Gold Inc. said it has completed a downsized private placement for C$16,593,302.
The company sold 7,542,410 units at C$2.20 each to Kennecott Canada Exploration Inc. and Ivanhoe Mines Ltd.
The units include one share, one half-share A warrant and one half-share B warrant. The whole A warrants allow for an additional share at C$2.75 each for two years, and the whole B warrants allow for an additional share at C$3.00 each for two years.
The deal was first announced June 20 as a C$13,875,226 offering of up to 6,306,921 units under the same terms.
Based in Vancouver, B.C., Entrée is a gold exploration company.
| Issuer: | Entrée Gold Inc.
|
| Issue: | Units of one share, one half-share A warrant, one half-share B warrant
|
| Amount: | C$16,593,302
|
| Units: | 7,542,410
|
| Price: | C$2.20
|
| Warrants: | One half-share A warrant per unit; one half-share B warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.75 for A warrants; C$3.00 for B warrants
|
| Investors: | Kennecott Canada Exploration Inc.; Ivanhoe Mines Ltd.
|
| Pricing date: | June 20
|
| Settlement date: | July 7
|
| Stock price: | C$2.40 at close June 20
|
| Stock price: | C$2.38 at close July 6
|
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