SVM - Whitehorse Gold to launch up to $3M private placement
- Whitehorse Gold ( OTCQX:WHGDF ) ( TSXV: WHG:CA ) intends to launch an up to $3M non-brokered private placement financing from the sale of up to 7.5M units at $0.40 per unit.
- Each unit consists of one share and one-half of one non-transferable share purchase warrant.
- Each warrant will entitle the holder thereof to acquire one share at $0.65 per share.
- Silvercorp Metals ( NYSE: SVM ), the mineral exploration company's largest shareholder, and other insiders are expected to participate in the offering with the purchase of an aggregate of up to 5M units.
- The net proceeds are intended to be used for working capital requirements and other general corporate purposes.
- The offering is likely to close on or about Nov. 30.
- Source: Press Release
For further details see:
Whitehorse Gold to launch up to $3M private placement