By Sheri Kasprzak
Atlanta, Jan. 5 - SearchGold Resources Inc. plans to hit the private placement market with a C$1,317,800 offering, the company said Wednesday.
The offering includes 10,136,923 units at C$0.13 each. The units include one share and one warrant.
The warrants allow for an additional share at C$0.17 each for two years.
Five foreign investors agreed to purchase the units.
Based in Montreal, SearchGold is a diamond and gold exploration and development company. It plans to use the proceeds from the offering for a feasibility study on its Bakoudou gold project in Gabon.
| Issuer: | SearchGold Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1,317,800
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| Units: | 10,136,923
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| Price: | C$0.13
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.17
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| Announcement date: | Dec. 23
|
| Stock price: | C$0.19 at close Dec. 23
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