By Devika Patel
Knoxville, Tenn., Dec. 28 - Hawthorne Gold Corp. completed a non-brokered private placement of units, raising C$3 million. The deal priced on Dec. 19.
The company sold 1,875,000 units at C$1.60 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$2.25 for 18 months.
The company paid 92,813 common shares in finder's fees.
Proceeds will be used to make the first payment on the Taurus option agreement, for costs to complete the merger between Hawthorne and Cusac Mines Ltd., announced on Dec. 19, and for general working capital.
Hawthorne Gold is a Vancouver, B.C.-based gold exploration and development company with key properties located in British Columbia.
Issuer: | Hawthorne Gold Corp.
|
Issue: | Units of one common share and one half-share warrant
|
Amount: | C$3 million
|
Units: | 1,875,000
|
Price: | C$1.60
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | 18 months
|
Warrant strike price: | C$2.25
|
Agent: | Non-brokered
|
Fees: | 92,813 common shares
|
Pricing date: | Dec. 19
|
Settlement date: | Dec. 28
|
Stock symbol: | TSX Venture: HGC
|
Stock price: | C$1.53 at close Dec. 19
|
© 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.