- Pasofino Gold (VEIN) has closed a $5.3 million private placement
- The company issued 10.6 million units for $0.50 per unit
- Each unit represents 1 share and half of a share purchase warrant
- Whole warrants allow holders to purchase a share for $0.65
- Pasofino Gold (VEIN) is a Canadian-based mineral exploration company and owns 49 percent of the Dugbe Gold Project
- Pasofino Gold (VEIN) is unchanged today, trading at C$0.42 as of 3:31 pm ET
Pasofino Gold (VEIN) has closed its previously-announced non-brokered private placement for gross proceeds of approximately $5.3 million.
The company issued 10.6 million units for $0.50 per unit. A total of 10,617,843 common shares and 4,065,332 warrants are being issued.
Krisztian Toth, Chairman of the Board of Pasofino, says:
“With the funds raised under this financing, the company is well positioned to continue with its strategic review process and to exercise its option to acquire 100% of the project (prior to the government of Liberia’s 10% carried interest) by converting the 51% ownership interest in the Dugbe Gold Project held by Hummingbird into a 51% shareholding interest in Pasofino.”
All securities issued are subject to a statutory 4-month hold period expiring February 20, 2023.
The company paid a finder’s fee of $1,750 in cash and issued 3,500 warrants.
Pasofino Gold (VEIN) is a Canadian-based mineral exploration company and owns 49 percent of the Dugbe Gold project.
Pasofino Gold (VEIN) is unchanged today, trading at C$0.42 as of 3:31 pm ET.
