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Provider: Reuters Investment Profile

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Highvista Gold Inc Closes $764,000 Placement, Amends Note-Canada Stockwatch News

Friday, 25 Jan 2013 07:03pm EST 

Canada Stockwatch News reported that Highvista Gold Inc has closed a private placement financing for gross proceeds of $746,000 through the issuance of 3.82 million units of the Company at a price of 20 cents per unit. Each unit consists of one common share of the Company and one common share purchase warrant entitling the holder to purchase one common share at an exercise price of 25 cents per share until January 25, 2015. In connection with the private placement, the Company paid a cash commission of $20,000 and issued non-transferable compensation warrants entitling the holder to subscribe for a total of 100,000 common shares at a price of 20 cents per share until January 25, 2015. The securities forming the units and underlying the broker warrants are subject to a statutory hold period that will expire on May 26, 2013. The Company plans to use the net proceeds from the private placement to finance exploration of the Company's properties, for administrative expenses and for unallocated working capital. In a separate transaction, the Company also amended the terms of its outstanding promissory note originally issued on April 23, 2012, in the principal amount of $800,000. The amended and restated note is in the principal amount of $708,196, the maturity date has been extended to April 30, 2014, and the note was amended to grant a general security interest to the lender over the personal property and assets of the Company. 

Company Quote

22 Dec 2014