Company sells units of a share, a half-share warrant at C$0.45 apiece
By Devika Patel
Knoxville, Tenn., Dec. 28 - Adventure Gold Inc. said it settled a C$1.75 million private placement of units.
The company sold 3,888,946 units of one common share and one half-share warrant at C$0.45 per unit. Each whole, two-year warrant is exercisable at C$0.65. The strike price is a 58.54% premium to C$0.41, the Dec. 27 closing share price.
"I personally thank our new and existing shareholders for their support and vote of confidence as we close this financing at a premium compared to the market price," company president Marco Gagnon said in a press release. "Within the next year, we will diligently pursue our exploration strategy focused on expanding the company's mineral resources and developing new opportunities. The team remains firmly committed in creating value for all shareholders."
Adventure Gold is a gold explorer in Montreal.
| Issuer: | Adventure Gold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,750,026
|
| Units: | 3,888,946
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Settlement date: | Dec. 28
|
| Stock symbol: | TSX Venture: AGE
|
| Stock price: | C$0.41 at close Dec. 27
|
| Market capitalization: | C$22.44 million
|
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