By Devika Patel
Knoxville, Tenn., Nov. 30 - Tagish Lake Gold Corp. announced it has raised C$436,198 in the second tranche of a non-brokered C$1.7 million private placement of units. The deal priced on Sept 25, and the company raised C$479,400 in the first tranche, which settled on Oct. 24.
In this tranche, Tagish sold about 2.57 million units and paid a C$33,027 cash finder's fee, along with finder's warrants exercisable for 50,117 common shares on the same terms as the warrants sold in the deal.
In the first tranche, the company sold 2.82 million units and paid a C$29,780 cash finder's fee, along with finder's warrants exercisable for 175,200 common shares also on the same terms as the warrants sold in the deal.
As previously reported, the company plans to sell a total of 10 million units at C$0.17 apiece. Each unit consists of one flow-through common share and one half-share warrant. Each whole non-transferable warrant is exercisable at C$0.25 for 18 months.
Proceeds will be used to fund a diamond drilling program.
Based in Vancouver, B.C., Tagish is a gold and silver exploration and development company focused on the Canadian Yukon Territory.
| Issuer: | Tagish Lake Gold Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.7 million
|
| Units: | 10 million
|
| Price: | C$0.17
|
| Warrants: | One half warrant per unit
|
| Warrant strike price: | C$0.25
|
| Warrant expiration: | 18 months
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 25
|
| Stock symbol: | TSX Venture: TLG
|
| Stock price: | C$0.165 at close Sept. 24
|
|
|
| First tranche
|
| Amount: | C$479,400
|
| Units: | 2.82 million
|
| Fees: | C$29,780 in cash, finder's warrants exercisable for 175,200 common shares
|
| Settlement date: | Oct. 24
|
|
|
| Second tranche
|
| Amount: | C$436,198
|
| Units: | 2.57 million (approximate)
|
| Fees: | C$33,027 in cash, finder's warrants exercisable for 50,117 common shares
|
| Settlement date: | Nov. 30
|
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