Non-brokered deal to fund working capital, general corporate purposes
By Devika Patel
Knoxville, Tenn., July 26 - Abzu Gold Ltd. said it plans a C$3 million non-brokered private placement of units.
The company will sell 4,615,385 units of one common share and one half-share warrant at C$0.65 per unit.
Each whole warrant is exercisable at C$0.90 for one year. The strike price is a 16.88% premium to the July 25 closing share price of C$0.77.
Proceeds will be used for working capital and general corporate purposes.
Based in Vancouver, B.C., Abzu is a gold explorer.
| Issuer: | Abzu Gold Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3 million
|
| Units: | 4,615,385
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.90
|
| Agent: | Non-brokered
|
| Pricing date: | July 26
|
| Stock symbol: | TSX Venture: ABS
|
| Stock price: | C$0.77 at close July 25
|
| Market capitalization: | C$37.02 million
|
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