By Sheri Kasprzak
Atlanta, June 20 - Goldcrest Resources Ltd. said it plans to raise up to C$2.1 million in a private placement.
The non-brokered offering includes up to 12 million units at C$0.175 each.
The units are comprised of one share and one half-share warrant. The full warrants provide for an additional share at C$0.25 each for two years.
The proceeds from the deal will be used for exploration at the company's Youanmi project in Western Australia and at its Malba and Kampti projects in Burkina Faso.
Goldcrest also said it has terminated the C$6 million unit offering it had announced March 28. Paradigm Capital Inc. had been the placement agent for that deal.
Based in Toronto, Goldcrest is a mineral exploration company.
| Issuer: | Goldcrest Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.1 million (maximum)
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| Units: | 12 million (maximum)
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| Price: | C$0.175
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.25
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| Pricing date: | June 20
|
| Stock price: | C$0.20 at close June 20
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