Deal sells 25,796,437 units with two-year warrants at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., March 11 – African Gold Group, Inc. said it plans a C$1.29 non-brokered private placement of units with Georges Cohen.
The company will sell 25,796,437 units of one common share and a half-share warrant at C$0.05 per unit. Each whole, two-year warrant will be exercisable at C$0.075 in the first six months and then at C$0.10 until expiration. The warrant strike prices are 87.5% and 150% premiums, respectively, to the March 10 closing share price of C$0.04.
Settlement is expected March 13.
Proceeds will be used for the feasibility study at the Kobada Gold Project in southwestern Mali.
African Gold is a gold exploration company based in Toronto.
| Issuer: | African Gold Group, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1,289,822
|
| Units: | 25,796,437
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.075 in the first six months, then C$0.10 until expiration
|
| Agent: | Non-brokered
|
| Investor: | Georges Cohen
|
| Pricing date: | March 11
|
| Settlement date: | March 13
|
| Stock symbol: | TSX Venture: AGG
|
| Stock price: | C$0.04 at close on March 10
|
| Market capitalization: | C$7.17 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
