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Vangold Resources Ltd Arranges $1.2 Million Private Placement-Canada Stockwatch News


Friday, 18 Jan 2013 04:20pm EST 

Canada Stockwatch News reported that Vangold Resources Ltd. has entered into agreements to complete a private placement of 6,000,000 units at 20 cents each for proceeds of $1.2-million. Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of 30 cents each for a period of two years. Upon closing, and subject to exchange approval, the Company may pay a finder's fee of up to 7% of the gross proceeds of the transaction. Such fees shall be payable in cash or common shares of the Company at a deemed price of 20 cents each, or a combination thereof. Proceeds will be used to advance the Company's three Papua New Guinea gold projects, and Armenia oil and gas project, and for general working capital purposes. The common shares, warrants and warrant shares will be subject to a statutory hold period of four months and one day following the closing date. 

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17 Oct 2014