Deal offers 100 million shares at C$0.10 per share, a 42.86% premium
By Devika Patel
Knoxville, Tenn., Aug. 29 - White Tiger Gold Ltd. said it took in C$1.5 million in the third and final tranche of a C$9.62 million non-brokered private placement of stock. The deal priced for C$10 million on July 4 and raised C$5.58 million on July 16. The company settled a C$2.54 million tranche on July 25.
The company sold 96,208,000 common shares at C$0.10 per share, a 42.86% premium to the July 3 closing share price of C$0.07. It sold 55,830,500 shares in the initial tranche, 25,377,500 shares in the second tranche and 15 million shares in the final tranche.
The private placement is intended to provide funding that the company "urgently requires" to continue with the phase 2 expansion of the Savkino mine, to develop a new mine at the Nasedkino project and to modify loan transactions for the purpose of resolving the default of the company's debt to Kirkland Intertrade Corp. and Unique Goals International Ltd., according to a press release.
Based in Toronto, White Tiger is a gold explorer.
| Issuer: | White Tiger Gold Ltd.
|
| Issue: | Common stock
|
| Amount: | C$9,620,800
|
| Shares: | 96,208,000
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 4
|
| Settlement dates: | July 16 (for C$5,583,050), July 25 (for C$2,537,750), Aug. 29 (for C$1.5 million)
|
| Stock symbol: | Toronto: WTG
|
| Stock price: | C$0.07 at close July 3
|
| Market capitalization: | C$11.54 million
|
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