Non-brokered deal funds additional work on the Springpole Gold Project
By Devika Patel
Knoxville, Tenn., Aug. 2 - Gold Canyon Resources Inc. said it will conduct a C$1.95 million non-brokered private placement of units.
The company will sell 8,497,564 units of one common share and one warrant at C$0.23 per unit. The warrants are each exercisable at C$0.40 for two years.
The strike price reflects an 81.82% premium to the Aug. 1 closing share price of C$0.22.
Proceeds will be used for additional work on the Springpole Gold Project and general corporate purposes.
Gold Canyon is a mineral and precious metals exploration company based in Vancouver, B.C.
| Issuer: | Gold Canyon Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,954,440
|
| Units: | 8,497,564
|
| Price: | C$0.23
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 2
|
| Stock symbol: | TSX Venture: GCU
|
| Stock price: | C$0.22 at close Aug. 1
|
| Market capitalization: | C$31.19 million
|
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