By Devika Patel
Knoxville, Tenn., Dec. 13 - Luna Gold Corp. announce it has increased a non-brokered private placement of units to C$9.77 million, since the offering was over-subscribed. The deal priced on Dec. 5 for C$5 million.
The company now plans to sell 9.77 million units at C$1.00 apiece. It previously intended to sell 5 million units at that price. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.50 for 18 months.
The company may pay a 6% cash finder's fee and 6% in broker's warrants.
Proceeds will be used for exploration
Vancouver, B.C.-based Luna is a gold exploration and development company focused on projects in Brazil and Nevada.
| Issuer: | Luna Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$9.77 million
|
| Units: | 9.77 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.50
|
| Agent: | Non-brokered
|
| Fees: | 6% in cash, broker warrants
|
| Pricing date: | Dec. 5
|
| Upsized: | Dec. 13
|
| Stock symbol: | TSX Venture: LGC
|
| Stock price: | C$1.18 at close Dec. 5
|
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