By Laura Lutz
Des Moines, March 22 - Eurasia Gold Inc. arranged a private placement of shares for C$20 million.
The company plans to sell 16,637,551 shares to TKA Corp. at C$1.2021 per share.
TKA is controlled by Kumar Mukashev, a director of Eurasia with ownership or direction over about 54.9% of Eurasia's currently outstanding shares.
The placing shares represent about 10.9% of the company's currently outstanding share capital. Because the placement will involve the sale of more than 10% of the company's share capital to an insider, the placement depends on shareholder approval, which has already been received.
Proceeds will be used for near-term funding requirements for new projects.
Settlement is expected on March 29.
Eurasia is a Toronto-based gold company.
| Issuer: | Eurasia Gold Inc.
|
| Issue: | Shares
|
| Amount: | C$20 million
|
| Shares: | 16,637,551
|
| Price: | C$1.2021
|
| Warrants: | No
|
| Investor: | TKA Corp.
|
| Pricing date: | March 22
|
| Settlement date: | March 29
|
| Stock symbol: | Toronto: EGX
|
| Stock price: | C$1.16 at close March 21
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
