By Laura Lutz
Des Moines, July 6 - Hawthorne Gold Corp. arranged a private placement of units for C$5.225 million.
The company plans to sell 3,265,625 units of one share and one half-share warrant at C$1.60 per unit. Each whole warrant will be exercisable at C$1.75 for two years.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$2.25 for 10 consecutive trading days.
Proceeds will be used for exploration and working capital.
Hawthorne is a gold exploration and development company based in Vancouver, B.C.
| Issuer: | Hawthorne Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5.225 million
|
| Units: | 3,265,625
|
| Price: | C$1.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.75
|
| Pricing date: | July 6
|
| Stock symbol: | TSX Venture: HGC
|
| Stock price: | C$1.60 at close July 6
|
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