Catalina Gold closes $414K private placement

Photo of author

By CPE News

Vancouver (pcJ News Briefs) – Catalina Gold Corp. (TSX-V: CA.H) has closed previously announced non-brokered private placement of 8,280,000 units at a price of $0.05 per unit for gross proceeds of $414,000.

Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable to acquire an additional common share of the Corporation at a price of $0.10 for a period of one year from closing.

Catalina Gold paid a finder’s fee consisting of a cash fee of $28,890 and 828,000 finder’s warrants exercisable at a price of $0.10 for a period of one year from closing to Canaccord Genuity Corp..

Proceeds will be used for professional fees associated with the reactivation transaction and acquisition of mineral concession relating to the Yurani Mill previously announced on January 30, 2017, environmental work on its properties in connection with the reactivation transaction, geological consulting costs associated with preparing technical reports and geological reports on its properties, and for general operational expenses and working capital purposes.