Offering funds development of operations in Ghana and working capital
By Devika Patel
Knoxville, Tenn., May 2 - Abzu Gold Ltd. said it has negotiated a C$2 million non-brokered private placement of units.
The company will sell 40 million units of one common share and one warrant at C$0.05 per unit.
Each warrant is exercisable at C$0.10 for one year. The strike price is a 150% premium to the May 1 closing share price of C$0.04.
Stonehouse Construction Pte. Ltd. is among the investors.
Proceeds will be used for development of the company's operations in Ghana and general working capital.
Based in Vancouver, B.C., Abzu is a gold explorer.
| Issuer: | Abzu Gold Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 40 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Investor: | Stonehouse Construction Pte. Ltd.
|
| Pricing date: | May 2
|
| Stock symbol: | TSX Venture: ABS
|
| Stock price: | C$0.04 at close May 1
|
| Market capitalization: | C$3.56 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
