Non-brokered offering raises proceeds for exploration and development
By Devika Patel
Knoxville, Tenn., Oct. 29 - Guyana Precious Metals Inc. said it plans a C$7 million non-brokered private placement of 70 million units of one common share and one warrant at C$0.10 per unit.
Each warrant will be exercisable at C$0.13 for two years. The strike price represents a 4% premium to C$0.125, the Oct. 28 closing share price.
Proceeds will be used for the acquisition, exploration and development of properties in the Guiana Shield and for general working purposes.
The mineral exploration company is based in Toronto.
Issuer: | Guyana Precious Metals Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$7 million
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Units: | 70 million
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Price: | C$0.10
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.13
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Agent: | Non-brokered
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Pricing date: | Oct. 29
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Stock symbol: | TSX Venture: GPM
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Stock price: | C$0.125 at close Oct. 28
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Market capitalization: | C$12.52 million
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