5,789,999 units of one share and one warrant sold at C$0.18 per unit
By Devika Patel
Knoxville, Tenn., Aug. 29 – Golden Hope Mines Ltd. said on Thursday that it raised C$615,140 in the second and final tranche of a C$1.04 million non-brokered private placement of units. The deal raised C$427,060 on July 29, when the company announced the deal to raise C$1.3 million.
The company sold 5,789,999units of one common share and one warrant at C$0.18 per unit. It sold 2,372,555 units in the initial tranche and 3,417,444 units in the second tranche.
The two-year warrants are exercisable at C$0.35, a 59.09% premium to the July 27 closing price of C$0.22.
Proceeds will be used for business development purposes and general working capital.
The gold exploration and development company is based in Toronto.
| Issuer: | Golden Hope Mines Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,042,200
|
| Units: | 5,789,999
|
| Price: | C$0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Settlement date: | July 28 (for C$427,060), Aug. 29 (for C$615,140)
|
| Stock symbol: | TSX Venture: GNH
|
| Stock price: | C$0.22 at close July 27
|
| Market capitalization: | C$2.17 million
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