By Devika Patel
Knoxville, Tenn., July 8 - Corex Gold Corp. said it plans a C$4.35 million non-brokered private placement of units.
The company will sell 4,706,000 units of one common share and a half-share warrant at C$0.68 apiece to Gammon Gold Inc. It will sell 1,694,000 units at the same price to other investors. Each whole warrant will be exercisable at C$0.90 for two years.
Proceeds will be used for expenses associated with the ongoing development of the Santana Gold project and for general working capital.
Corex is a Vancouver, B.C.-based gold exploration and development company.
| Issuer: | Corex Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4,352,000
|
| Units: | 6.4 million
|
| Price: | C$0.68
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.90
|
| Agent: | Non-brokered
|
| Investor: | Gammon Gold Inc. (for C$3,200,080)
|
| Pricing date: | July 8
|
| Stock symbol: | TSX Venture: CGE
|
| Stock price: | C$0.68 at close July 7
|
| Market capitalization: | C$21.2 million
|
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