By Devika Patel
Knoxville, Tenn., Feb. 18 - Gryphon Gold Corp. said it settled a C$1.85 million private placement of units. The deal priced for C$1.87 million on Jan. 22.
The company sold 10,897,353 units of one common share and one half-share warrant at C$0.17 per unit.
Each whole warrant will be exercisable at $0.25 for two years.
Proceeds will be used for exploration and development and general corporate purposes.
Gryphon is a Vancouver, B.C.-based gold exploration company.
| Issuer: | Gryphon Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,852,550
|
| Units: | 10,897,353
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.25
|
| Pricing date: | Jan. 22
|
| Settlement date: | Feb. 18
|
| Stock symbol: | Toronto: GGN
|
| Stock price: | C$0.215 at close Jan. 21
|
| Market capitalization: | C$11.9 million
|
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