Proceeds slated to make payment on Gullewa Gold Project acquisition
By Devika Patel
Knoxville, Tenn., Sept. 21 - Mutiny Gold Ltd. said it sold 70 million ordinary shares at A$0.035 per share to raise A$2.45 million in a private placement.
The per share price represents a 30% discount to A$0.05, the closing share price on Sept. 20.
Investors also received one option for every share purchased, which are each exercisable at A$0.05 until July 23, 2013. The strike price is identical to the Sept. 20 share price.
Proceeds will be used to make the next A$1.25 million tranche of the scheduled payment commitments for the company's acquisition of the Gullewa Gold Project from ATW Gold Corp. Ltd.
In addition, the funding will be used to complete the infill drilling Gullewa's Deflector Pit.
The gold and copper explorer is based in South Perth, Australia.
| Issuer: | Mutiny Gold Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$2.45 million
|
| Shares: | 70 million
|
| Price: | A$0.035
|
| Options: | One option for every two shares
|
| Option expiration: | July 23, 2013
|
| Option strike price: | A$0.05
|
| Settlement date: | Sept. 21
|
| Stock symbol: | Australia: MYG
|
| Stock price: | A$0.047 at close Sept. 21
|
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