By Devika Patel
Knoxville, Tenn., Feb. 11 - Hawthorne Gold Corp. announced two private placements of units for C$3 million. In the first, non-brokered deal, the company plans to sell C$2 million of units. In the other, it will raise C$1 million by selling its units via agent J.F. Mackie & Co. Ltd.
In the first deal, the company will sell 6,666,667 units of one common share and one half-share warrant at C$0.30 apiece.
In the second deal, the company will sell 3,333,333 units of one common share and one half-share warrant, also at C$0.30 apiece.
Each warrant will be exercisable at C$0.40 for one year.
The deals will settle Feb. 26.
Proceeds from both deals will be used to fund resource development and commencement of pre-production expenses at the Table Mountain Mine and Taurus deposit and for general corporate 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
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 26
|
| Stock symbol: | TSX Venture: HGC
|
| Stock price: | C$0.36 at close Feb. 10
|
|
|
| First deal
|
| Amount: | C$2 million
|
| Units: | 6,666,667
|
| Agent: | Non-brokered
|
|
|
| Second deal
|
| Amount: | C$1 million
|
| Units: | 3,333,333
|
| Agent: | J.F. Mackie & Co. Ltd
|
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