Company also plans to acquire DGL Investments for 27,142,857 shares
By Devika Patel
Knoxville, Tenn., Aug. 16 - Whetstone Minerals Ltd. said it negotiated a $4.75 million private placement of stock.
The company will sell 27,142,857 common shares at $0.175 per share.
Proceeds will be used for exploration activities and general corporate purposes.
The company also said that it has entered into an agreement with Duration Gold Ltd. to acquire all of DGL Investments Number Five Mauritius' outstanding shares in exchange for 27,142,857 Whetstone common shares at a deemed issue price of $0.175 per share.
The gold explorer is located in Calgary, Alta.
| Issuer: | Whetstone Minerals Ltd.
|
| Issue: | Common stock
|
| Amount: | $4.75 million
|
| Shares: | 27,142,857
|
| Price: | $0.175
|
| Warrants: | No
|
| Pricing date: | Aug. 16
|
| Stock symbol: | TSX Venture: WMI
|
| Stock price: | C$0.14 at close Aug. 16
|
| Market capitalization: | C$16.98 million
|
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