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Kingold Jewelry Inc Announces Sale Of Common Stock


Friday, 11 Jan 2013 06:05am EST 

Kingold Jewelry Inc announced that the Company has entered into a Subscription Agreement with three individuals providing for the sale of 7,000,000 shares of common stock at a price of $1.80 per share for gross proceeds of $12,600,000. The Company also issued to the investors, on a pro rata basis, warrants to purchase up to an additional 2,800,000 shares of common stock at an exercise price of $1.80, which warrant is not cashless exercise but is exercisable at any time in whole or in part for twelve months following the date of the Agreement. The Company intends to use the proceeds from this transaction to purchase additional raw materials for products, working capital and other general corporate purposes. 

Company Quote

1.08
-0.02 -1.82%
25 Nov 2014