Company sells units at C$0.225 each with 18-month half-share warrants
By Devika Patel
Knoxville, Tenn., Feb. 22 - High Desert Gold Corp. said it settled a C$4.71 million private placement of units. Haywood Securities Inc. was the agent for the deal, which priced for C$2.5 million on Jan. 27.
The company sold 20,928,394 units of one common share and one half-share warrant at C$0.225 per unit.
The whole warrants are each exercisable at C$0.35 for 18 months. The strike price reflects a 29.63% premium to the Jan. 26 closing share price of C$0.27.
Proceeds will be used for exploration of the company's properties, administrative expenses and unallocated working capital.
Vancouver, B.C.-based High Desert is a gold, copper and silver exploration company.
| Issuer: | High Desert Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4,708,889
|
| Units: | 20,928,394
|
| Price: | C$0.225
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 22
|
| Stock symbol: | TSX Venture: HDG
|
| Stock price: | C$0.27 at close Jan. 26
|
| Market capitalization: | C$8.99 million
|
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