By Sheri Kasprzak
Atlanta, March 17 - Gulf International Minerals Ltd. said it has wrapped the C$450,000 second tranche of its previously announced C$1,775,000 private placement.
The company sold 4.75 million shares at C$0.10 each in the second tranche.
On March 16, the company closed the first tranche of the deal. It sold 13 million shares at C$0.10 each for proceeds of C$1.3 million.
Corporate Synergy plc was the placement agent in the offering.
Based in Toronto, Gulf International is a gold and silver exploration, acquisition and development company. It plans to use the proceeds from the deal to fund exploratory drilling for reserves and grade definition at deposits near three of its gold mines.
| Issuer: | Gulf International Minerals Ltd.
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| Issue: | Stock
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| Amount: | C$475,000
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| Shares: | 4.75 million
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| Price: | C$0.10
|
| Warrants: | No
|
| Placement agent: | Corporate Synergy plc
|
| Settlement date: | March 17
|
| Stock price: | C$0.07 at close March 17
|
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