Non-brokered deal sells units with 18-month warrants at C$0.025 each
By Devika Patel
Knoxville, Tenn., June 11 – Q-Gold Resources Ltd. said it has arranged a C$1.25 million non-brokered private placement of units.
The company will sell 50 million units of one common share and one warrant at C$0.025 per unit.
Each warrant will be exercisable at C$0.05 for 18 months. The strike price is a 150% premium to C$0.02, the June 10 closing share price.
Proceeds will be used for exploration and general corporate purposes.
Q-Gold is a precious and base metals mining company based in Flagstaff, Ariz.
| Issuer: | Q-Gold Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.25 million
|
| Units: | 50 million
|
| Price: | C$0.025
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.05
|
| Agent: | Non-brokered
|
| Pricing date: | June 11
|
| Stock symbol: | TSX Venture: QGR
|
| Stock price: | C$0.02 at close June 10
|
| Market capitalization: | C$325,040
|
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