Proceeds allocated for resource drilling at two Ghana gold projects
By Devika Patel
Knoxville, Tenn., Oct. 12 - PMI Gold Corp. said it has completed a private placement of stock. The deal raised C$5 million and priced on Sept. 20.
PMI sold 27,777,778 common shares at C$0.18 apiece. The purchase price is a 25% discount to the Sept. 17 closing share price of C$0.24. Macquarie Bank Ltd. bought 18,877,910 shares for C$3.4 million.
Proceeds will be used to accelerate and expand resource drilling programs at PMI's two flagship gold projects in Ghana.
PMI is a mining company based in Vancouver, B.C.
| Issuer: | PMI Gold Corp.
|
| Issue: | Common stock
|
| Amount: | C$5 million
|
| Shares: | 27,777,778
|
| Price: | C$0.18
|
| Warrants: | No
|
| Investor: | Macquarie Bank Ltd. (for C$3,398,024)
|
| Pricing date: | Sept. 20
|
| Settlement date: | Oct. 12
|
| Stock price: | TSX Venture: PMV
|
| Stock price: | C$0.24 at close Sept. 17
|
| Market capitalization: | C$88.21 million
|
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