By Laura Lutz
Des Moines, Oct. 2 - Keegan Resources Inc. announced plans to conduct a private placement for up to C$3.6 million.
The company intends to sell up to 2 million units of one share and one half-share non-transferable warrant for C$1.80 per unit. Each full warrant will be exercisable at C$2.40 for 18 months.
Keegan may accelerate the expiry on the warrants to 30 days if its shares trade above C$3.25 for a period of 10 days.
Proceeds of the non-brokered deal will be used to drill and advance the company's Esaase and Asumura gold properties in Ghana.
Keegan is a gold exploration company based in Vancouver, B.C.
| Issuer: | Keegan Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.6 million
|
| Units: | 2 million
|
| Price: | C$1.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.40
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 2
|
| Stock symbol: | TSX Venture: KGN
|
| Stock price: | C$2.00 at close on Oct. 2
|
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