By Devika Patel
Knoxville, Tenn., Sept. 30 - PMI Gold Corp. said it has increased a private placement of units to C$3.2 million from C$2.75 million. The deal priced on Aug. 25.
PMI will sell 32 million units of one share and one warrant at C$0.10 per unit on a best-efforts basis.
Each warrant will be exercisable at C$0.15 for two years.
Proceeds will be used to retire secured debt, to pay down accounts payable and to expand the drilling program on the Kubi Gold project in Ghana.
PMI is a mining company based in Vancouver, B.C.
| Issuer: | PMI Gold Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3.2 million
|
| Units: | 32 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Pricing date: | Aug. 25
|
| Upsized: | Sept. 30
|
| Stock price: | TSX Venture: PMV
|
| Stock price: | C$0.11 at close Aug. 24
|
| Market capitalization: | C$12.5 million
|
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