By Sheri Kasprzak
Atlanta, Jan. 12 - Apollo Gold Corp. has wrapped up the second and last tranche of a $9,375,000 direct placement.
The company sold a total of 4,199,998 units at $0.75 each for $3.15 million.
The units in the offering consist of one share and one three-quarters share warrant. The whole warrants allow for an additional share at $1 through Jan. 7, 2007.
Underwriter Regent Mercantile Bancorp Inc. exercised an over-allotment option for 1,875,000 units. The offering was originally for $7,968,750.
The securities included in the direct placement were sold under the company's shelf registration.
Apollo is a Denver-based gold mining and exploration company. It plans to use the proceeds from the deal for the continued development of its Black Fox gold projects and for general working capital.
| Issuer: | Apollo Gold Corp.
|
| Issue: | Units of one share and one three-quarters share warrant
|
| Amount: | $3.15 million
|
| Units: | 4,199,998
|
| Price: | $0.75
|
| Warrants: | One three-quarters share warrant per unit
|
| Warrant expiration: | Jan. 7, 2007
|
| Warrant strike price: | $1
|
| Underwriter: | Regent Mercantile Bancorp Inc.
|
| Settlement date: | Jan. 7
|
| Stock price: | $0.74 at close Jan. 7
|
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