Deal sells 10 million units with half-share warrant at C$0.10 per unit
By Devika Patel
Knoxville, Tenn., Aug. 20 - Ginguro Exploration Inc. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.10 per unit, with each whole warrant exercisable at C$0.15 for two years. The strike price is a 36.36% premium to C$0.11, the Aug. 19 closing share price.
Ginguro is a gold and base metals explorer in Sudbury, Ont.
Issuer: | Ginguro Exploration Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1 million
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Units: | 10 million
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Price: | C$0.10
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | Aug. 20
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Stock symbol: | TSX Venture: GEG
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Stock price: | C$0.11 at close Aug. 19
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Market capitalization: | C$6.64 million
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