Non-brokered deal funds exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., Feb. 25 - Astur Gold Corp. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 1,428,571 units of one common share and one half-share warrant at C$0.70 per unit, with each whole warrant exercisable at C$0.90 for two years. The strike price is a 34.33% premium to C$0.67, the Feb. 22 closing share price.
Proceeds will be used for exploration and development work on the company's Salave gold project and general working capital purposes.
The company also said it arranged a three-year C$10 million loan facility with RMB Australia Holdings Ltd. The loan accrues interest at Libor plus 600 basis points.
The gold mining company is based in Vancouver, B.C.
| Issuer: | Astur Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 1,428,571
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.90
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 25
|
| Stock symbol: | TSX Venture: AST
|
| Stock price: | C$0.67 at close Feb. 22
|
| Market capitalization: | C$23.46 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
