Non-brokered deal inked to finance drilling program, working capital
By Devika Patel
Knoxville, Tenn., March 21 - Angkor Gold Corp. said it plans a non-brokered private placement of units to raise between C$1.35 million and C$2.97 million. The company also said that investors have already expressed interest in buying the maximum number of units, so it has stopped accepting subscriptions for the offering.
The company will sell between 3 million and 6.6 million units of one common share and one half-share warrant at C$0.45 per unit. Each whole warrant will be exercisable at C$0.70 for two years.
The strike price is a 48.94% premium to the March 20 closing share price of C$0.47.
Proceeds will be used to accelerate Angkor's drilling program in two locations that indicate strong gold copper porphyrys. Proceeds will also be used for general working capital and future acquisitions.
Angkor is a gold explorer in Vancouver, B.C.
Issuer: | Angkor Gold Corp.
|
Issue: | Units of one common share and one half-share warrant
|
Amount: | C$1.35 million (minimum), C$2.97 million (maximum)
|
Units: | 3 million (minimum), 6.6 million (maximum)
|
Price: | C$0.45
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | Two years
|
Warrant strike price: | C$0.70
|
Agent: | Non-brokered
|
Pricing date: | March 21
|
Stock symbol: | TSX Venture: ANK
|
Stock price: | C$0.47 at close March 20
|
Market capitalization: | C$28.17 million
|
© 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.