By Devika Patel
Knoxville, Tenn., March 20 - Lund Gold Ltd. priced a C$2 million brokered private placement of units. It also said it would raise C$535,920 in a non-brokered placement on identical terms.
The company will sell units of one common share and one half-share warrant at C$0.24 apiece and flow-through units of one flow-through common share and one half-share warrant at C$0.24 per unit.
Each whole warrant will be exercisable at C$0.40 for two years.
For the brokered deal, a maximum of C$1.57 million may be raised from the flow-through units. J.F. Mackie & Co. Ltd. is the agent for this deal.
Proceeds will be used for exploration.
Based in Vancouver, B.C., Lund is a gold exploration company.
| Issuer: | Lund Gold Ltd.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$2,535,920
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | March 20
|
| Stock symbol: | TSX Venture: LGD
|
| Stock price: | C$0.24 at close March 20
|
|
|
| Brokered deal
|
| Amount: | C$2 million
|
| Agent: | J.F. Mackie & Co. Ltd.
|
|
|
| Units
|
| Price: | C$0.24
|
|
|
| Flow-through units
|
| Amount: | C$1.57 million (maximum)
|
| Price: | C$0.30
|
|
|
| Non-brokered deal
|
| Amount: | C$535,920
|
| Agent: | Non-brokered
|
|
|
| Units
|
| Price: | C$0.24
|
|
|
| Flow-through units
|
| Price: | C$0.30
|
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