By Sheri Kasprzak
New York, Nov. 8 - Vangold Resources Ltd. said it has concluded its previously announced private placement for C$2,221,257.
The company issued 8,885,028 units at C$0.25 each.
The units include one share and one warrant. The warrants are exercisable at C$0.35 each for one year.
The deal was priced on Sept. 23 as a C$2.5 million offering of 8,333,333 units at C$0.30 each with the warrants priced at C$0.40 each. The size of the offering was reduced on Oct. 24 to C$2 million with the price knocked down to C$0.25.
Proceeds will be used for work programs in Papua New Guinea and for exploration and development of oil and gas properties. The rest will be used for working capital.
Based in Vancouver, B.C., Vangold is an oil and natural gas exploration company.
| Issuer: | Vangold Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,221,257
|
| Units: | 8,885,028
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Sept. 23
|
| Settlement date: | Nov. 7
|
| Stock price: | C$0.33 at close Sept. 23
|
| Stock price: | C$0.32 at close Nov. 7
|
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