By Laura Lutz
Des Moines, June 21 - Golden Tag Resources Ltd. arranged a private placement of flow-through shares and units for up to C$1.6 million.
The placement will consist of two tranches.
The first tranche will include up to C$600,000 of flow-through shares at C$0.55 per share.
The second tranche will consist of up to C$1 million and at least C$250,000 of units at C$0.50 per unit. Each unit will consist of one non flow-through share and one non flow-through warrant. Each warrant will be exercisable for two years, at C$0.60 in the first year and at C$0.65 in the second year.
The placement will be non-brokered.
Proceeds from the first tranche will be used for exploration, and proceeds from the second tranche will be used for the company's Mexican projects and for general corporate purposes.
Settlement is expected on July 6.
Golden Tag is an exploration company based in Montreal.
| Issuer: | Golden Tag Resources Ltd.
|
| Issue: | Flow-through shares; units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$1.6 million
|
| Agent: | Non-brokered
|
| Pricing date: | June 21
|
| Settlement date: | July 6
|
| Stock symbol: | TSX Venture: GOG
|
| Stock price: | C$0.47 at close June 20
|
|
|
| Flow-through shares
|
| Amount: | C$600,000
|
| Price: | C$0.55
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$1 million (maximum); C$250,000 (minimum)
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60 in the first year; C$0.65 in the second year
|
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