Deal sells 11.5 million units of one share and one warrant at C$0.20
By Devika Patel
Knoxville, Tenn., Aug. 15 – Luna Gold Corp. said it has negotiated a C$2.3 million non-brokered private placement of units.
The company will sell 11.5 million units of one common share and one warrant at C$0.20 per unit.
Each warrant is exercisable at C$0.25 for five years. The strike price is a 3.85% discount to the Aug. 12 closing share price of C$0.26.
Settlement is expected Aug. 29.
Proceeds will be used to complete the technical work that is required to restart the Aurizona Gold Mine, as well as for general working capital purposes.
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 warrant
|
| Amount: | C$2.3 million
|
| Units: | 11.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 29
|
| Stock symbol: | Toronto: LGC
|
| Stock price: | C$0.26 at close Aug. 12
|
| Market capitalization: | C$78.78 million
|
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