Non-brokered deal to finance exploration at company's Akorade Project
By Devika Patel
Knoxville, Tenn., Aug. 17 - Castle Peak Mining Ltd. said it priced a C$3 million non-brokered private placement of units. The deal was announced on Aug. 15.
The company will sell 8,571,428 units of one common share and one half-share warrant at C$0.35 apiece.
Each whole one-year warrant will be exercisable at C$0.50, a 40.85% premium to the Aug. 16 closing share price of C$0.355.
Settlement is expected Sept. 30.
Proceeds will be used for exploration at the Akorade Project and as working capital.
Castle Peak is a gold exploration company based in Vancouver, B.C.
| Issuer: | Castle Peak Mining Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3 million
|
| Units: | 8,571,428
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Announcement date: | Aug. 15
|
| Pricing date: | Aug. 17
|
| Settlement date: | Sept. 30
|
| Stock symbol: | TSX Venture: CAP
|
| Stock price: | C$0.355 at close Aug. 16
|
| Market capitalization: | C$1.44 million
|
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