Non-brokered deal sells three-year note, flow-through common shares
By Devika Patel
Knoxville, Tenn., Oct. 30 - Golden Bridge Mining Corp. said it has negotiated a C$1 million non-brokered private placement of stock and convertible debentures.
The company will sell 1,428,571 flow-through common shares at C$0.35 per share. The price per share is a 6.06% premium to the Oct. 29 closing share price of C$0.33.
In addition, the company will sell a C$500,000 three-year 8% convertible debenture that is convertible into common shares at C$0.35 per share, also a 6.06% premium to the Oct. 29 closing price.
Settlement is expected Nov. 15.
Proceeds will be used for mineral exploration programs and general working capital purposes.
The gold explorer is based in Toronto.
| Issuer: | Golden Bridge Mining Corp.
|
| Issue: | Flow-through common stock, convertible debenture
|
| Amount: | C$1 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 15
|
| Stock symbol: | TSX Venture: GBM
|
| Stock price: | C$0.33 at close Oct. 29
|
| Market capitalization: | C$4.9 million
|
|
|
| Shares
|
| Amount: | C$500,000
|
| Shares: | 1,428,571
|
| Price: | C$0.35
|
|
|
| Debenture
|
| Amount: | C$500,000
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Conversion price: | C$0.35
|
| Conversion premium: | 6.06%
|
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