By Devika Patel
Knoxville, Tenn., Dec. 14 - Erdene Gold Inc. said it has raised C$4.66 million in a non-brokered private placement of shares. The deal priced for C$4.2 million on Nov. 29.
The company sold 3,326,500 flow-through common shares at C$1.40 per share in two tranches. It originally intended to sell up to 3 million shares.
Proceeds will be used for exploration and evaluation of the Donkin Coal Resource Block located in Cape Breton, N.S.
Erdene Gold is a mineral exploration company based in Halifax, N.S.
| Issuer: | Erdene Gold Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4,657,100
|
| Shares: | 3,326,500
|
| Price: | C$1.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 14
|
| Stock symbol: | Toronto: ERD
|
| Stock price: | C$1.10 at close Nov. 29
|
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