By Devika Patel
Knoxville, Tenn., Feb. 17 - Vangold Resources Ltd. said it has arranged a C$6 million non-brokered private placement of units.
The company will sell 17,142,857 units of one common share and one half-share warrant at C$0.35 apiece. Each whole warrant is exercisable at C$0.50 for 18 months.
Proceeds will be used for exploration and development and for general working capital purposes.
Vangold Resources is a resource exploration company based in Vancouver, B.C.
| Issuer: | Vangold Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6 million
|
| Units: | 17,142,857
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.50
|
| Warrant expiration: | 18 months
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 17
|
| Stock symbol: | TSX Venture: VAN
|
| Stock price: | C$0.34 at close Feb. 16
|
| Market capitalization: | C$9.14 million
|
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