La Ronge Gold Corp. (TSXV:LAR) has completed the first of its two-tranche brokered private placement. The first tranche consists of 4 million common shares at a price of $0.25 per common share for the purpose of raising gross proceeds of $1 million. La Ronge is progressing efforts on the $6 million subscription receipt raise.

As quoted in the press release:

The Company has issued to the Underwriters 234,500 of non-transferable Common Share purchase warrants (“Broker Warrants”) and $58,625 in cash commission. Each Broker Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per share for a period of 24 months following closing of the Offering.

Click here to read the La Ronge Gold Corp. (TSXV:LAR) press release