By Devika Patel
Knoxville, Tenn., Feb. 23 - Hawthorne Gold Corp. said it is increasing two private placements of units to C$6 million. In the first, non-brokered deal, the company plans to sell C$3.55 million of units. In the other, it will raise C$2.45 million by selling its units via agent J.F. Mackie & Co. Ltd. Both deals priced for up to C$3 million on Feb. 11.
In the first deal, the company will sell 11,842,000 units of one common share and one half-share warrant at C$0.30 apiece.
In the second deal, the company will sell 8,180,766 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$6,006,829.80
|
Price: | C$0.30
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.40
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Pricing date: | Feb. 11
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Upsized: | Feb. 23
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Settlement date: | Feb. 26
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Stock symbol: | TSX Venture: HGC
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Stock price: | C$0.36 at close Feb. 10
|
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First deal
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Amount: | C$3,552,600
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Units: | 11,842,000
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Agent: | Non-brokered
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Second deal
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Amount: | C$2,454,229.80
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Units: | 8,180,766
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Agent: | J.F. Mackie & Co. Ltd
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