Company now sells 5 million shares at C$0.40 each in non-brokered deal
By Devika Patel
Knoxville, Tenn., May 11 – Columbus Gold Corp. said it amended a non-brokered private placement of stock to raise C$2 million. The deal priced for C$4.3 million on April 9.
The company will sell 5 million common shares at C$0.40 per share, which is a 17.5% discount to the April 8 closing share price of C$0.47. It previously planned to sell 10 million shares at C$0.43 apiece, an 8.51% discount to the April 8 closing share price.
Proceeds will be used to advance the Eastside gold project in Nevada and for general working capital purposes.
Columbus Gold is a gold miner based in Vancouver, B.C.
| Issuer: | Columbus Gold Corp.
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| Issue: | Common shares
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| Amount: | C$2 million
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| Shares: | 5 million
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| Price: | C$0.40
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| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | Baker Steel Capital Managers LLP
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| Pricing date: | April 9
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| Revised: | May 11
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| Stock symbol: | TSX Venture: CGT
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| Stock price: | C$0.47 at close April 8
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| Market capitalization: | C$57.19 million
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