Funds used to buy leasable real estate, take advantage of investments
By Devika Patel
Knoxville, Tenn., June 24 - Mongolia Growth Group Ltd. said it completed a C$17.1 million non-brokered private placement of units on Thursday. The deal priced for C$20 million with a C$15 million greenshoe on May 24 and was revised on June 2.
The company sold 4,871,673 common shares at C$3.51 apiece on a commercially reasonable efforts basis. The price per share reflects a 21.65% discount to the May 23 closing share price of C$4.48.
Chairman and chief executive officer Harris Kupperman invested C$526,500 and William Fleckenstein invested C$526,500.
Proceeds will be used to purchase leasable real estate, take advantage of investment opportunities and for general corporate purposes.
The Calgary, Alta., company explores for copper and gold.
| Issuer: | Mongolia Growth Group Ltd.
|
| Issue: | Common stock
|
| Amount: | C$17,099,572
|
| Shares: | 4,871,673
|
| Price: | C$3.51
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | Harris Kupperman (for C$526,500) and William Fleckenstein (for C$526,500)
|
| Pricing date: | May 24
|
| Revised: | June 2
|
| Settlement date: | June 23
|
| Stock symbol: | CNSX: YAK
|
| Stock price: | C$4.48 at close May 23
|
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