New Issue: Grandview Gold settles C$1.11 million placement of units, shares

By Devika Patel

Knoxville, Tenn., Dec. 21 - Grandview Gold Inc. said it raised C$1.11 million in a private placement of units and stock. The deal priced for up to C$3.24 million on Nov. 23.

The company sold 605,000 flow-through shares at C$0.65 per share for C$393,250 and 1,312,000 units at C$0.55 apiece for C$721,600. It planned to sell up to 1.6 million flow-through shares for C$1.04 million and up to 4 million units for C$2.2 million.

Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.70 for two years.

Bolder Investment Partners, Ltd. was the agent. The company paid Bolder an 8% cash fee and issued broker's options exercisable for a number of units equal to 8% of the number of shares and units sold in this deal. Each broker's option will be exercisable for two years.

Proceeds will be used for drilling as well as working capital and general corporate purposes.

Grandview Gold is a gold exploration and development company based in Toronto.

Issuer:	Grandview Gold Inc.
Issue:	Units of one common share and one half-share warrant; flow-through shares
Amount:	C$1,114,850
Agent:	Bolder Investment Partners, Ltd.
Fees:	8% in cash and options
Pricing date:	Nov. 23
Settlement date:	Dec. 21
Stock symbol:	Toronto: GVX
Stock price:	C$0.60 at close Nov. 23
Units
Amount:	C$721,600
Units:	1,312,000
Price:	C$0.55
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.70
Flow-through shares
Amount:	C$393,250
Shares:	605,000
Price:	C$0.65
Warrants:	No

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.