Jordan Capital Markets is the agent; company to acquire gold projects
By Devika Patel and Stephanie N. Rotondo
Knoxville, Tenn., April 14 - Mexigold Corp. said Wednesday it has arranged a private placement of units. The company will raise C$3.2 million.
The company will sell 10 million units of one common share and one warrant at C$0.32 per unit.
Each warrant will be exercisable at C$0.50 for two years. The strike price represents a 25% premium to the C$0.40 closing share price on April 12.
Jordan Capital Markets Inc. is the agent for C$1 million of the deal, according to Hari Varshney, president of Varshney Capital Corp., which owns MexiGold.
"Metal is flying high, so hopefully we'll have a discovery and a mine," he told Prospect News.
Varshney noted that "things look pretty good."
The company also said it signed a definitive option agreement with Riverside Resources Inc. on March 18 to acquire up to 75% of an interest in three drill-ready gold exploration properties in Durango-Zacatecas, Mexico.
Based in Vancouver, B.C., Mexigold is a gold exploration company.
| Issuer: | Mexigold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.2 million
|
| Units: | 10 million
|
| Price: | C$0.32
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Jordan Capital Markets Inc.
|
| Pricing date: | April 13
|
| Stock symbol: | TSX Venture: MAU
|
| Stock price: | C$0.445 at close April 13
|
| Market capitalization: | C$8.26 million
|
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