Dynasty Gold Corp. (CVE:DYG) signs a Letter of Intent with Mill Bay Ventures Inc.(TSE:MBV) to earn a 70% interest in the Golden Repeat property situated in the Midas region of Nevada.
The press release is quoted as saying:
Dynasty further announces that it plans to complete a non-brokered private placement of up to 10,000,000 units for gross proceeds of $500,000. Each unit, priced at $0.05, consists of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at $0.10 for a period of two years. The units issued under the private placement are subject to four month hold period. The Company will use the proceeds of the private placement to fund its first year payment and exploration obligations under the Golden Repeat property option and for general working capital purposes.