Deal offers two types of units to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., Dec. 21 - Lateegra Gold Corp. said it has priced a private placement of units. The company will raise C$3 million by selling units and flow-through units.
The company will sell 2,142,858 units at C$0.35 apiece for C$750,000. Each unit consists of one common share and one half-share warrant.
The company also will sell 5,625,000 flow-through units at C$0.40 apiece for C$2.25 million. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole one-year warrant will be exercisable at C$0.50, a 42.86% premium to the Dec. 20 closing share price of C$0.35.
Proceeds will be used for qualified exploration expenditures on the company's mineral properties and for general working capital.
Based in Vancouver, B.C., Lateegra is a gold exploration company.
| Issuer: | Lateegra Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$3 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: LRG
|
| Stock price: | C$0.35 at close Dec. 20
|
| Market capitalization: | C$10.78 million
|
|
|
| Units
|
| Amount: | C$750,000
|
| Units: | 2,142,858
|
| Price: | C$0.35
|
|
|
| Flow-through units
|
| Amount: | C$2.25 million
|
| Units: | 5,625,000
|
| Price: | C$0.40
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
