By Sheri Kasprzak
Atlanta, June 10 - Orko Gold Corp. said it has raised an additional C$108,000 in a private placement it closed last month.
The company sold 400,000 units at C$0.27 each.
The units include one share and one half-share warrant. The whole warrants provide for an additional share at C$0.35 each for two years.
The pricing of the latest offering was increased from the original deal priced on May 19 as a C$1 million deal. The original deal included 4 million units at C$0.25 each. The warrants were exercisable at C$0.30 each for the same term. The deal was later upsized on May 27 to C$1.2 million.
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.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$108,000
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| Units: | 400,000
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| Price: | C$0.27
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.35
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| Pricing date: | May 19
|
| Settlement date: | June 9
|
| Stock price: | C$0.26 at close May 19
|
| Stock price: | C$0.35 at close June 9
|
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