By Devika Patel
Knoxville, Tenn., Jan. 30 - Cangold Ltd. said it will conduct a C$1 million non-brokered private placement of units.
The company intends to sell up to 5.6 million units of one share and one half-share warrant at C$0.18 per unit. Each whole warrant will be exercisable at C$0.25 for one year.
The company may pay a 6% cash finder's fee.
Proceeds will be used for exploration, acquisitions and working capital.
Cangold is a mining company based in Vancouver, B.C.
Issuer: | Cangold Ltd.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$1,008,000
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Units: | 5.6 million
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Price: | C$0.18
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.25
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Agent: | Non-brokered
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Pricing date: | Jan. 30
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Stock symbol: | TSX Venture: CLD
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Stock price: | C$0.20 at close Jan. 30
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