By Laura Lutz
Des Moines, Nov. 22 - Golden China Resources Corp. arranged a private placement of units for up to C$4.5 million.
The company plans to sell 22.5 million units of one share and one warrant at C$0.20 per unit. Each whole warrant will be exercisable at C$0.25 for one year.
Expiry of the warrants may be accelerated if the volume weighted average price of the company's shares is at least C$0.30 for 15 consecutive trading days.
Proceeds will be used for working capital, including drilling at the company's Nibao and Beyinhar gold projects.
Golden China is a precious metals company based in Toronto.
| Issuer: | Golden China Resources Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$4.5 million
|
| Units: | 22.5 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Nov. 22
|
| Stock symbol: | TSX Venture: AUC
|
| Stock price: | C$0.20 at close Nov. 22
|
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