Iamgold purchases 12 million units of one share, a half-share warrant
By Devika Patel
Knoxville, Tenn., Nov. 7 - Colombia Crest Gold Corp. said it completed a C$3.42 million private placement of units with Iamgold Corp. The deal priced Oct. 26.
The company sold 12 million units of one common share and one half-share warrant at C$0.285 each. The whole warrants are each exercisable at C$0.35 until Oct. 31, 2013. The strike price represents a 59.09% premium to C$0.22, the closing share price on Oct. 25.
Proceeds will be used for working capital.
Based in Vancouver, B.C., Colombia Crest is a gold exploration company.
| Issuer: | Colombia Crest Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.42 million
|
| Units: | 12 million
|
| Price: | C$0.285
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Oct. 31, 2013
|
| Warrant strike price: | C$0.35
|
| Investor: | Iamgold Corp.
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 7
|
| Stock symbol: | TSX Venture: CLB
|
| Stock price: | C$0.25 at close Oct. 26
|
| Market capitalization: | C$20.59 million
|
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