Non-brokered offering finances delineation and development of projects
By Devika Patel
Knoxville, Tenn., Nov. 30 - Glass Earth Gold Ltd. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 18.75 million units of one common share and one warrant at C$0.16 per unit.
Each warrant will be exercisable at C$0.25 for two years. The strike price represents a 38.89% premium to the C$0.18 closing share price on Nov. 29.
Proceeds will be used to advance the delineation and development of the Neavesville and WKP projects.
The gold mining exploration and development company is based in Toronto.
| Issuer: | Glass Earth Gold Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 18.75 million
|
| Price: | C$0.16
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Stock symbol: | TSX Venture: GEL
|
| Stock price: | C$0.18 at close Nov. 30
|
| Market capitalization: | C$12.7 million
|
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