Deal sold 3,126,000 units of one common share, one half-share warrant
By Devika Patel
Knoxville, Tenn., July 27 – Angkor Gold Corp. said it completed an oversubscribed C$1.25 million non-brokered private placement of units. The deal priced for C$1.2 million.
The company sold 3,126,000 units of one common share and one half-share warrant at C$0.40 per unit.
Each whole warrant is exercisable at C$0.50 for one year. The strike price is a 13.64% premium to the July 26 closing share price of C$0.44.
“Along with operational capital, this cash injection will allow Angkor to continue to build shareholder value as we begin the process of identification, and eventual acquisition, of new exploration licenses in Cambodia,” chairman and chief executive officer Mike Weeks said in a press release.
Angkor is a gold explorer in Calgary, Alta.
| Issuer: | Angkor Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,250,400
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| Units: | 3,126,000
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
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| Settlement date: | July 27
|
| Stock symbol: | TSX Venture: ANK
|
| Stock price: | C$0.44 at close July 26
|
| Market capitalization: | C$41.08 million
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