Highvista Gold Inc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Highvista Gold Inc Completes $963,000 Financing Through Issuance Of 4,815,000 Units To AuRico Gold Inc
Highvista Gold Inc announced that it closed a non-brokered private placement financing for gross proceeds of $963,000 (the Private Placement) through the issuance of 4,815,000 units (the Units) of the Company to AuRico Gold Inc. (AuRico Gold) at a price of $0.20 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each a Warrant), each whole Warrant entitling AuRico Gold to purchase one common share at an exercise price of $0.25 per share until June 28, 2015. The securities comprising the Units are subject to a statutory hold period that will expire on October 29, 2013. The Company plans to use the net proceeds from the Private Placement to fund exploration of the Company's properties, for administrative expenses and unallocated working capital. Prior to the completion of the Private Placement, AuRico Gold did not beneficially own or exercise control or direction over any securities of the Company. Following completion of the Private Placement, AuRico Gold beneficially owns 4,815,000 common shares of Company and 2,407,500 Warrants. This represents approximately 12.07% of the issued and outstanding common shares of the Company on an undiluted basis, or approximately 17.08% on a partially diluted basis, assuming full exercise of the 2,407,500 Warrants, and that no other party exercises warrants or options of the Company. The Private Placement was a private transaction outside of any market or other facility.
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