By Devika Patel
Knoxville, Tenn., Nov. 21 - Gowest Amalgamated Resources Ltd. said it has raised C$975,000 in a previously announced non-brokered private placement of units. The deal priced on Oct. 26 for C$600,000 and was upsized on Nov. 5 to C$1 million.
The company sold 3.9 million units, down slightly from its planned sale of 4 million units, at C$0.25 apiece. Each unit consists of one flow-through common share, one-fifth of one non flow-through common share and one half-share warrant. Each whole warrant is exercisable at C$0.35 until Dec. 31, 2008.
Proceeds will be used for exploration.
The company paid a C$40,000 finder's fee for this deal.
Based in Toronto, Gowest explores for gold in Ontario.
| Issuer: | Gowest Amalgamated Resources Ltd.
|
| Issue: | Units of one flow-through common share, one-fifth of one non flow-through common share and one half-share warrant
|
| Amount: | C$975,000
|
| Units: | 3.9 million
|
| Price: | C$0.25
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | Dec. 31, 2008
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Fees: | C$40,000
|
| Pricing date: | Oct. 26
|
| Upsized: | Nov. 5
|
| Settlement date: | Nov. 21
|
| Stock symbol: | TSX Venture: GWA
|
| Stock price: | C$0.20 at close Nov. 5
|
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