TORONTO (miningweekly.com) – TSX-V-listed Golden Predator Mining has announced a private placement in the company by Eric Sprott for gross proceeds of $7.3-million, through the issuance of ten-million non-flow-through units at C$0.73 each.
The company also received further financing of up to 6.5-million flow-through units at a minimum price of C$1 per flow-through unit, for gross proceeds of up to C$6.5-million. Each unit comprised one common share of the company and one-half share purchase warrant.
Each full warrant would entitle the holder to buy one additional common share of the company at a price of $1.00 each for a period of two years from the closing date.
The expiry date of the warrants could be accelerated if the company’s volume weighted average price was C$2.50 for 20 consecutive trading days, in which event the company could give notice that the warrants would expire 30 days following the notice.
The company advised that proceeds from the financing would be applied to the company’s 3 Aces and Brewery Creek projects in the Yukon Territory, and for general working capital.
Golden Predator’s shares last traded at $0.97 apiece, at the top-end of their 52-week range of $0.06 to $1.03.
Edited by: Samantha Herbst
Creamer Media Deputy Editor
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