Non-brokered offering sells units with half-share warrants at C$0.40
By Devika Patel
Knoxville, Tenn., March 7 - Lago Dourado Minerals Ltd. said it plans an C$8 million non-brokered private placement of units comprised of 20 million units of one common share and one half-share warrant at C$0.40 per unit.
Each whole warrant is exercisable at C$0.60 for 18 months. The strike price reflects a 51.9% premium to C$0.395, the March 6 closing share price.
Lago Dourado is a Toronto-based gold explorer.
| Issuer: | Lago Dourado Minerals Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$8 million
|
| Units: | 20 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | March 7
|
| Stock symbol: | TSX Venture: LDM
|
| Stock price: | C$0.395 at close March 6
|
| Market capitalization: | C$28.68 million
|
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