By Laura Lutz
Des Moines, July 14 - Erdene Gold Inc. completed a C$6 million private placement. The deal was increased from the C$5 million original offering in response to investor demand.
The transaction includes 6 million flow-through shares at C$1.00 per share.
Proceeds will be used for exploration and evaluation of the Donkin Coal Resource Block in Cape Breton, N.S. Erdene has a 20% interest in the project.
The financing syndicate was led by Acadian Securities Inc. and included Toll Cross Securities Inc. and Wellington West Capital Markets Inc.
Erdene is a mineral company based in Dartmouth, N.S.
| Issuer: | Erdene Gold Inc.
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| Issue: | Flow-through shares
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| Amount: | C$6 million
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| Shares: | 6 million
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| Price: | C$1.00
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| Warrants: | No
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| Placement agents: | Acadian Securities Inc. (lead), Toll Cross Securities Inc. and Wellington West Capital Markets Inc.
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| Stock symbol: | TSX Venture: ERD
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| Stock price: | C$0.84 at close July 14
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