By Sheri Kasprzak
New York, April 4 - Golden Tag Resources Ltd. said it has settled the final tranche of a C$1,725,000 private placement for C$1,225,000.
Most recently, the company issued 7,494,669 units at C$0.15 each and 560,000 flow-through shares at C$0.18 each.
The units consist of one share and one warrant. Each warrant is exercisable at C$0.20 through March 31, 2008.
In the first tranche, the company raised C$500,000 from the sale of 1,653,333 units and 1.4 million flow-through shares.
The non-brokered deal priced Dec. 16, 2005 as a C$1.5 million offering.
Proceeds from the flow-through shares will be used for exploration on the company's Canadian properties. The rest will be used for exploration on the company's Mexican properties and for general corporate purposes.
Montreal-based Golden Tag is a gold exploration company.
| Issuer: | Golden Tag Resources Ltd.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,225,000
|
| Placement agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Settlement date: | April 4
|
| Stock symbol: | TSX Venture: GOG
|
| Stock price: | C$0.15 at close Dec. 16
|
| Stock price: | C$0.31 at close April 3
|
|
|
| Flow-through shares
|
| Shares: | 560,000
|
| Price: | C$0.18
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 7,494,669
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 31, 2008
|
| Warrant strike price: | C$0.20
|
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