Deal’s proceeds expected to fund exploration at the Golden Wonder mine
By Devika Patel
Knoxville, Tenn., Aug. 11 – LKA Gold Inc. said it settled a $1.8 million private placement of stock with Koski Family LP.
The company sold 7.2 million common shares at $0.25 apiece. The price per share is a 51.92% discount to the Aug. 8 closing share price of $0.52.
Proceeds will be used for exploration at the company’s Golden Wonder mine near Lake City, Colo.
The gold and silver explorer is based in Gig Harbor, Wash.
| Issuer: | LKA Gold Inc.
|
| Issue: | Common shares
|
| Amount: | $1.8 million
|
| Shares: | 7.2 million
|
| Price: | $0.25
|
| Warrants: | No
|
| Investor: | Koski Family LP
|
| Settlement date: | Aug. 11
|
| Stock symbol: | OTCBB: LKAI
|
| Stock price: | $0.52 at close Aug. 8
|
| Market capitalization: | $8.5 million
|
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