The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Golden Predator Mining Corp. July 26 announced the completion of a C$16.36 million brokered private placement.
As a result of the financing, the company issued 11.036 million non-low-through units at C73 cents each and 8.305 million flow-through units at $1.00 apiece.
Each unit includes one Golden Predator share and one half of a warrant.
Each full warrant entitles the holder to purchase one additional company share at C$1.00 for a period of two years from the closing date.
Eric Sprott acquired 10 million of the non-flow through units.
The founder of Sprott Asset Management now owns 13.55 percent of Golden Predator's issued and outstanding common shares on a non-diluted basis and 19.04 percent on a partially diluted basis assuming exercise of the warrants.
Golden Predator said it will use the proceeds from the financing to fund work at its 3 Aces and Brewery Creek gold projects in the Yukon Territory and general working capital.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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