Sale funds development of Asmara Project and working capital purposes
By Devika Patel
Knoxville, Tenn., Oct. 11 - Sunridge Gold Corp. said it increased its private placement of units to C$5 million with a 15% greenshoe from C$3 million. The deal priced Sept. 19.
The company will now sell 26,315,790 units of one common share and one warrant at C$0.19 per unit.
Each warrant is exercisable at C$0.35 until Oct. 18, 2017. The strike price reflects an 84.21% premium to the Sept. 18 closing share price of C$0.19.
The deal is being conducted on a best-efforts basis by Tempest Capital Corp.
Settlement is expected Oct. 18.
Proceeds will be used for development of the company's Asmara Project as well as general working capital purposes.
Sunridge is a gold exploration company based in Vancouver, B.C.
| Issuer: | Sunridge Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million
|
| Greenshoe: | 15%
|
| Units: | 26,315,790
|
| Price: | C$0.19
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Oct. 18, 2017
|
| Warrant strike price: | C$0.35
|
| Agent: | Tempest Capital Corp.
|
| Pricing date: | Sept. 19
|
| Upsized: | Oct. 11
|
| Settlement date: | Oct. 18
|
| Stock symbol: | TSX Venture: SGC
|
| Stock price: | C$0.19 at close Sept. 18
|
| Market capitalization: | C$35.91 million
|
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