By Sheri Kasprzak
Atlanta, May 20 - Orko Gold Corp. said it plans to raise C$1 million in a private placement of units.
The non-brokered deal includes 4 million units at C$0.25 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.30 each for two years.
The new offering replaces a brokered deal announced March 16 with Haywood Securities Inc. as placement agent.
Based in Vancouver, B.C., Orko is a gold exploration company. It plans to use the proceeds for drilling on its Mexican property and for working capital.
| Issuer: | Orko Gold Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million
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| Units: | 4 million
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Pricing date: | May 19
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| Stock price: | C$0.26 at close May 19
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