Angkor Gold Corp.(TSXV:ANK) announced the completion of its previously announced non-brokered private placement. The proceeds from Angkor’s latest private placement will be used for the Company’s current drill program.
As quoted in the press release:
Under the offering, the Corporation issued an aggregate of 6,316,979 units (“Units”), each consisting of one common share in the capital of Angkor (“Common Share”) and one-half of one non-transferable share purchase warrant. Each full share purchase warrant (“Warrant”) entitles the purchaser to acquire an additional Common Share at an exercise price of $0.70 per share for a period of two years from the date of closing, provided, however, that the Warrants will be subject to an acceleration clause whereby if the trading price of Angkor’s Common Share price on the TSX Venture Exchange is $0.90 or more for a period of 21 consecutive trading days, the Corporation may elect to issue a news release causing the Warrants to be exercised within 30 days of the date of the press release, failing which the Warrants will automatically expire.