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GeoMegA Resources (TSXV:GMA) announced it had closed a private placement selling 2,500,333 units for gross proceeds of $450,060. The company will use the proceeds to help fund the initial drilling campain on the Anik gold project and for working capital purposes.
According to the press release:
The Company will use the proceeds of the Private Placement for the initial drilling campaign on the Anik gold project and working capital purposes.
Each Unit consists of one common share (a “Common Share“) and one-half of one share purchase warrant (each whole warrant, a “Warrant“). Each whole Warrant entitles the holder thereof to acquire one additional common share at a price of $0.25 per share for a period of twenty-four (24) months from November 4, 2014 (the “Closing Date”).
The Common Shares and Warrants acquired by the subscribers are subject to a hold period of four months plus one day and may not be traded until March 5, 2015 except as permitted by applicable securities legislation and the rules of TSX Venture Exchange.
Click here to read the GeoMegA Resources (TSXV:GMA) press release
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