St. James Gold Corp. will conduct a non-brokered private placement of 3.5 million units at a price of 16 cents per unit for gross proceeds of $560,000. Each unit will be composed of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 20 cents per share for a period of two years from the date of issue.
All securities issued in connection with the offering will be subject to a four-month statutory hold period.
The company will pay commissions of 5 per cent in cash and 5 per cent in broker/finders’ warrants to registered investment dealers and brokers or to finders in jurisdictions where permitted by law. Each finder’s warrant will entitle the holder to purchase one additional common share at a price of 20 cents per share for a period of one year from the date of issue.
The proceeds of the offering will be used to pay outstanding indebtedness, to conduct exploration work on the company’s Newfoundland properties, to conduct due diligence on potential acquisitions and for general corporate purposes.
Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
For Full Release: https://www.stockwatch.com/News/Item/Z-C!LORD-3455778/C/LORD
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