Cortez Gold closes $414,535 private placement
2012-02-14 18:05 ET - News Release
Mr. Robert Eadie reports
CORTEZ CLOSES PRIVATE PLACEMENT
Further to its press release of Feb. 8, 2012, Cortez Gold Corp. has closed its non-brokered private placement with the issuance of 4,145,351 units priced at 10 cents per unit, for gross proceeds of $414,535.10.
Each unit consists of one common share of the company and one-half of one share purchase warrant with each whole warrant entitling the holder thereof to acquire an additional common share of the company for a period of two years at a price of 15 cents per share. The company may choose to accelerate the expiry date of the warrants if the company's shares on the TSX Venture Exchange close at a minimum of 20 cents for a period of 20 consecutive trading days.
A finder's fee will be paid with regard to this private placement in the form of a cash commission of $2,963.38 and 39,511 warrants. The warrants are exercisable at 10 cents for a period of 12 months from the date of closing. |