By Devika Patel
Knoxville, Tenn., Nov. 19 - Lero Gold Corp. said it has entered into an agreement with Canaccord Adams Ltd. for a C$2.5 million private placement of shares.
The company will sell 10 million common shares at C$0.25 each.
Canaccord will receive a 5% commission.
The deal is expected to settle on Dec. 11. Proceeds will be used for general corporate purposes.
Vancouver, B.C.-based Lero Gold, formerly ELE Capital Corp., is a new base and precious metals exploration company.
| Issuer: | Lero Gold Corp.
|
| Issue: | Common shares
|
| Amount: | C$2.5 million
|
| Shares: | 10 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Canaccord Adams Ltd.
|
| Fees: | 5%
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 11
|
| Stock symbol: | TSX Venture: LER
|
| Stock price: | C$0.28 at close Nov. 16
|
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