PearTree Securities was agent; 4,083,333 units sold at C$0.51 apiece
By Devika Patel
Knoxville, Tenn., July 7 – Monarques Gold Corp. said it completed a C$2.08 million private placement of units. PearTree Securities Inc. was the agent.
The company sold 4,083,333 units of one flow-through common share and one warrant at C$0.51 per unit.
Each whole warrant is exercisable at C$0.51 for three years. The strike price reflects a 30.77% premium to the July 6 closing share price of C$0.39.
Proceeds will be used for exploration on the Croinor Gold property.
The gold explorer is based in Montreal.
| Issuer: | Monarques Gold Corp.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$2,082,500
|
| Units: | 4,083,333
|
| Price: | C$0.51
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.51
|
| Agent: | PearTree Securities Inc.
|
| Pricing date: | July 7
|
| Stock symbol: | TSX Venture: MQR
|
| Stock price: | C$0.39 at close July 6
|
| Market capitalization: | C$34.37 million
|
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