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Uragold Bay Resources Inc Closes Previously Announced Hard Cash Private Placement Of $ 351,000


Thursday, 4 Jul 2013 12:27pm EDT 

Uragold Bay Resources Inc announced that it has closed the non-brokered private placement first mentioned on May 23, 2013. The placement is comprised of 5,850,000 units at $0.06 per Unit for gross proceeds of $351,000. Each Unit being comprised of 1 common share and 1 common share purchase warrant of the Company. Each Warrant will entitle the holder thereof to purchase one common share of the capital stock of the Company at an exercise price of $ 0.10 during a period of 24 months from the date of closing of the placement. Each share issued pursuant to the placement will have a mandatory four month holding period from the date of closing of the placement. The placement is subject to standard regulatory approvals. The net proceeds from the Private Placement will be used primarily for the Beauce Gold project, exploration activities plus general working capital. 

Company Quote

0.04
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17 Nov 2014