Deal offers two types of units, funds drill program and working capital
By Devika Patel
Knoxville, Tenn., April 4 - Newton Gold Corp. said it plans a C$1.85 million non-brokered private placement of units.
The company will sell 3 million units of one common share and one warrant at C$0.135 per unit and 8.5 million flow-through units of one flow-through common share and one warrant at C$0.17 per unit.
The unit warrants will be exercisable at C$0.20 for one year. The flow-through unit warrants will be exercisable at C$0.25 for one year. The strike prices are 42.86% and 78.57% premiums to the April 3 closing price of C$0.14.
Proceeds will be used for a drill program at the Newton Property and for general working capital.
Based in Vancouver, B.C., Newton is a gold explorer.
| Issuer: | Newton Gold Corp.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one warrant
|
| Amount: | C$1.85 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Agent: | Non-brokered
|
| Pricing date: | April 4
|
| Stock symbol: | TSX Venture: NWG
|
| Stock price: | C$0.14 at close April 3
|
| Market capitalization: | C$3.91 million
|
|
|
| Units
|
| Amount: | C$405,000
|
| Units: | 3 million
|
| Price: | C$0.135
|
| Warrant strike price: | C$0.20
|
|
|
| Flow-through units
|
| Amount: | C$1,445,000
|
| Units: | 8.5 million
|
| Price: | C$0.17
|
| Warrant strike price: | C$0.25
|
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