Non-brokered offering is to finance exploration and working capital
By Devika Patel
Knoxville, Tenn., Dec. 30 - Giyani Gold Corp. said it took in C$1.42 million in the stock portion of a non-brokered private placement of stock and units, which may now raise up to C$3.72 million. The deal priced for C$2.3 million of units and C$2.3 million of stock on Dec. 13.
The company sold 1,235,913 flow-through common shares at C$1.15 apiece and will sell 2 million units of one common share and a half-share warrant at C$1.15 per unit. Each whole warrant is exercisable at C$1.40 for 18 months.
The price per share represents a 5.51% premium to C$1.09, the Dec. 12 closing share price. The warrant strike price is a 28.44% premium to that price.
Settlement of the units portion is expected Jan. 12.
Proceeds will be used for exploration and general working capital purposes.
Giyani is a gold explorer based in Toronto.
| Issuer: | Giyani Gold Corp.
|
| Issue: | Flow-through common shares, units of one common share and a half-share warrant
|
| Amount: | C$3,721,300
|
| Price: | C$1.15
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 13
|
| Stock symbol: | TSX Venture: WDG
|
| Stock price: | C$1.09 at close Dec. 12
|
| Market capitalization: | C$37.61 million
|
|
|
| Shares
|
| Amount: | C$1,421,300
|
| Shares: | 1,235,913
|
| Warrants: | No
|
| Settlement date: | Dec. 30
|
|
|
| Units
|
| Amount: | C$2.3 million
|
| Units: | 2 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.40
|
| Settlement date: | Jan. 12
|
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