By Sheri Kasprzak
New York, Aug. 15 - Maxy Gold Corp. said it plans to raise C$1.1 million in a private placement.
The non-brokered offering includes 2.75 million units at C$0.40 each.
The units include one share and one half-share warrant. The whole warrants provide for the purchase of an additional share at C$0.80 each for two years.
The proceeds will be used for exploration and drilling on the Niukong and Niubo-Dichu areas of the Luchun gold project. The remainder will be used for initial exploration of the copper discovery of the Niujaozai property.
Vancouver, B.C.-based Maxy Gold is a gold exploration company.
| Issuer: | Maxy Gold Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.1 million
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| Units: | 2.75 million
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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: | Two years
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| Warrant strike price: | C$0.80
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| Pricing date: | Aug. 15
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| Stock price: | C$0.50 at close Aug. 12
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