VG Gold closes $317,400 second tranche of financing
2009-05-29 18:18 ET - News Release
Mr. Tom Meredith reports
SECOND TRANCHE OF PRIVATE PLACEMENT FINANCING CLOSES
VG Gold Corp. confirms that on May 28, 2009, it closed on the second tranche of 3,967,500 units, for gross proceeds of $317,400, of a flow-through private placement financing at eight cents per unit, conditional upon regulatory approval. Each unit consists of one common share and one-half of a warrant, with each full warrant being exercisable at 15 cents for 18 months from the date of closing for the purchase of an additional common share.
A finder's fee of 8 per cent cash and 10 per cent compensation options is being paid to eligible finders.
The company previously raised $250,000 in the first tranche, as announced on May 18, 2009, in Stockwatch.
The company also announces that it has granted 1.4 million options exercisable at price of 15 cents per share, expiring May 11, 2014, to corporate management, directors and consultants.
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