By Devika Patel
Knoxville, Tenn., June 26 - Apollo Gold Corp. announced it will raise C$10 million in a private placement of shares.
The company will sell 13,888,889 flow-through shares at C$0.54 apiece and 5,555,556 common shares atC$0.45 per share on a bought-deal basis.
There is a C$3 million greenshoe.
The deal is expected to settle on July 15.
Proceeds will be used to incur Canadian exploration expenses at Apollo's Black Fox project, for working capital and general corporate purposes.
Denver-based Apollo is a gold exploration company.
| Issuer: | Apollo Gold Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$10 million
|
| Greenshoe: | C$3 million
|
| Warrants: | No
|
| Pricing date: | June 26
|
| Settlement date: | July 15
|
| Stock symbol: | Toronto: APG
|
| Stock price: | C$0.49 at close June 26
|
| Market capitalization: | C$115 million
|
|
|
| Flow-through shares
|
| Amount: | C$7.5 million
|
| Shares: | 13,888,889
|
| Price: | C$0.54
|
|
|
| Common shares
|
| Amount: | C$2.5 million
|
| Shares: | 5,555,556
|
| Price: | C$0.45
|
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