Proceeds used to develop gold project in Shebandowan greenstone belt
By Devika Patel
Knoxville, Tenn., April 21 - Golden Share Mining Corp. said it settled a C$3.4 million non-brokered private placement of units.
The company sold 17 million units of one common share and one two-year warrant at C$0.20 per unit. Each warrant will be exercisable at C$0.32, a 39.13% premium to the April 20 closing share price of C$0.23.
Dundee Corp. invested C$1.3 million.
"We are very pleased to have Dundee Corp. and Libra Advisors, world recognized resource investors, as key participants to our private placement," president and chief executive officer Philippe Giaro said in a press release. "These two institutions provide firm underlying financial support to develop our key gold project in the underexplored Shebandowan greenstone belt of Northwestern Ontario, which includes the Band Ore property currently the object of an ongoing transaction with Lake Shore Gold Corp."
Montreal-based Golden Share is a gold mining company.
| Issuer: | Golden Share Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.4 million
|
| Units: | 17 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.32
|
| Agent: | Non-brokered
|
| Investor: | Dundee Corp. (for C$1.3 million)
|
| Settlement date: | April 21
|
| Stock symbol: | TSX Venture: GSH
|
| Stock price: | C$0.23 at close April 20
|
| Market capitalization: | C$12.56 million
|
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