Lone investor buys common shares at $0.01 each to fund working capital
By Devika Patel
Knoxville, Tenn., April 13 - Magellan Gold Corp. completed a $25,000 private placement of stock with a single investor on April 10, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 2.5 million common shares at $0.01 per share.
Proceeds will be used for working capital.
The private company is based in The Sea Ranch, Calif., and explores for gold.
| Issuer: | Magellan Gold Corp.
|
| Issue: | Common stock
|
| Amount: | $25,000
|
| Shares: | 2.5 million
|
| Price: | $0.01
|
| Warrants: | No
|
| Settlement date: | April 10
|
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