Deal inked with investor Tohui Beishan to fund exploration in Cambodia
By Toni Weeks
San Luis Obispo, Calif., April 14 - Angkor Gold Corp. said it plans a non-brokered private placement of units to raise C$2.25 million with investor Tohui Beishan Property Group Holding Ltd.
The company will sell 7.9 million units of one common share and one warrant at C$0.285 each.
Each warrant is exercisable until June 30, 2015 at C$0.50, which is a 63.93% premium to the closing share price of C$0.305 on April 11.
According to a press release, the investor also has the option to purchase 15% of subsidiary Angkor Gold Cambodia Ltd.'s shares for C$4,285,000 until June 30, 2015.
Proceeds will be used to fund exploration activities in Cambodia.
Angkor is a gold explorer in Calgary, Alta.
| Issuer: | Angkor Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,251,500
|
| Units: | 7.9 million
|
| Price: | C$0.285
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | June 30, 2015
|
| Warrant strike price: | C$0.50
|
| Investor: | Tohui Beishan Property Group Holding Ltd.
|
| Pricing date: | April 14
|
| Stock symbol: | TSX Venture: ANK
|
| Stock price: | C$0.305 at close April 11
|
| Market capitalization: | C$25.44 million
|
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