By Devika Patel
Knoxville, Tenn., Nov. 29 - Erdene Gold Inc. said it will raise C$4.2 million in a non-brokered private placement of shares.
The company will sell up to 3 million flow-through common shares at C$1.40 per share in two or more tranches.
Erdene Gold may pay a 5% finder's fee.
Proceeds will be used for exploration and evaluation of the Donkin Coal Resource Block located in Cape Breton, N.S. The deal is expected to settle on Dec. 12.
Erdene Gold is a mineral exploration company based in Halifax, N.S.
| Issuer: | Erdene Gold Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4.2 million
|
| Shares: | 3 million
|
| Price: | C$1.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Fees: | 5%
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 12
|
| Stock symbol: | Toronto: ERD
|
| Stock price: | C$1.10 at close Nov. 29
|
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