By Devika Patel
Knoxville, Tenn., Oct. 19 - Ovoca Gold plc announced it has settled a £1.26 million private placement of units.
The company sold 15,729,450 units of one share and one half-share warrant at 8p each. Each whole transferable warrant is exercisable at 10p for one year.
Proceeds will be used on the evaluation and development of projects and for working capital.
Dublin, Ireland-based Ovoca Gold is a precious and base metals exploration company focused on properties in Russia, Sweden and Ireland.
| Issuer: | Ovoca Gold plc
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | £1,258,356
|
| Units: | 15,729,450
|
| Price: | 8p
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | 10p
|
| Settlement date: | Oct. 19
|
| Stock symbol: | London: OVG
|
| Stock price: | 9.65p at close Oct. 18
|
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