By Sheri Kasprzak
New York, March 2 - Orko Gold Corp. said it has settled its previously announced non-brokered private placement for C$3,079,499.
The company sold 8,798,570 units at C$0.35 each.
The units consist of one share and one warrant. The warrants allow for the purchase of another share at C$0.50 each for 18 months.
The deal priced Feb. 14 as a C$3,255,000 offering of 9.3 million units.
Proceeds will be used for exploration and development of the company's La Preciosa and Santa Monica properties in Mexico. The rest will be used for working capital.
Based in Vancouver, B.C., Orko is a gold exploration company.
| Issuer: | Orko Gold Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3,079,499
|
| Units: | 8,798,570
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 14
|
| Settlement date: | March 2
|
| Stock symbol: | TSX Venture: OK
|
| Stock price: | C$0.46 at close Feb. 14
|
| Stock price: | C$0.50 at close March 2
|
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