By Devika Patel
Knoxville, Tenn., Oct. 12 - Apollo Gold Corp. announced it has entered into an agreement for a private placement of shares to raise C$4.07 million.
The company will sell 4,600,000 flow-through shares on a bought-deal basis and 2,800,000 flow-through shares on a best-efforts basis at C$0.55 per share.
The shares will have a four-month hold period.
The deal is expected to close on Oct. 31.
Proceeds will be used to incur Canadian exploration expenses at Apollo's Black Fox project.
Denver-based Apollo is a gold exploration company.
| Issuer: | Apollo Gold Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$4.07 million
|
| Shares: | 7,400,000
|
| Price: | C$0.55
|
| Warrants: | No
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 31
|
| Stock symbol: | Toronto: APG
|
| Stock price: | C$0.48 at close Oct. 11
|
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