By Sheri Kasprzak
Atlanta, May 27 - Orko Gold Corp. said it has upsized to C$1.2 million its previously announced C$1 million non-brokered private placement.
The company now plans to sell 4.8 million units at C$0.25 each.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$0.30 each for two years.
The deal was first announced May 19 as a C$1 million offering comprised of 4 million units under the same terms.
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$1.2 million
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| Units: | 4.8 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
|
| Upsized: | May 26
|
| Stock price: | C$0.26 at close May 19
|
| Stock price: | C$0.29 at close May 26
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