By Sheri Kasprzak
New York, June 7 - Ovoca Gold plc settled a private placement for £4,983,697.
The company issued 60,408,452 shares at 8.25p each.
Each share includes one half-share warrant. The whole warrants are exercisable at 12p each through Nov. 30, 2007.
DBM Capital was the placement agent.
Proceeds from the offering will be used for the evaluation and development of the company's Goltsovoye silver deposit in Russia and for the advancement of other projects in Scandinavia.
Dublin, Ireland-based Ovoca is a precious and base metals exploration company focused on properties in Russia, Sweden and Ireland.
| Issuer: | Ovoca Gold plc
|
| Issue: | Stock
|
| Amount: | £4,983,697
|
| Shares: | 60,408,452
|
| Price: | 8.25p
|
| Warrants: | One half-share warrant per share
|
| Warrant expiration: | Nov. 30, 2007
|
| Warrant strike price: | 12p
|
| Placement agent: | DBM Capital
|
| Settlement date: | June 7
|
| Stock symbol: | London: OVG
|
| Stock price: | 7.80p at close June 6
|
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