Company plans non-brokered financing to fund drilling and development
By Devika Patel
Knoxville, Tenn., April 21 - Goldrush Resources Ltd. said it plans a C$2 million non-brokered private placement of units.
The company will sell 12.5 million units at C$0.16 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.21 for 18 months.
The strike price is a 20% premium to the April 20 closing share price of C$0.175.
Proceeds will be used for drilling and development of the company's Ronguen gold deposit in Burkina Faso, West Africa, drilling on its other high priority Burkina Faso projects, to acquire additional properties and for working capital.
Goldrush is a mineral exploration company focused on gold and based in Vancouver, B.C.
| Issuer: | Goldrush Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 12.5 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.21
|
| Agent: | Non-brokered
|
| Pricing date: | April 21
|
| Stock symbol: | TSX Venture: GOD
|
| Stock price: | C$0.175 at close April 20
|
| Market capitalization: | C$12.42 million
|
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