Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
Golden Predator Corp. (TSX:GPD) (the “Company”) is pleased to announce that it has closed its previously announced bought deal private placement offering.
The Company sold a total of 16,675,000 Flow-Through Shares at a price of $0.90 per Flow-Through Share and 10,350,000 Units at a price of $0.75 per Unit, for gross proceeds to the Company of $22,770,000, including the exercise of the Underwriters’ option of $2,970,000. Each Unit consists of one Share and one half of one transferable common Share Purchase Warrant, with each whole Share Purchase Warrant being exercisable into one further Share of the Company at a price of $1.10 until September 8, 2012.
The Offering was underwritten by Dundee Securities Ltd. and Casimir Capital Ltd. as co-underwriters. In consideration for their services, the Underwriters received cash commissions of 6% and 605,040 non-transferable underwriter warrants having the same terms as the Share Purchase Warrants.
The proceeds of the Offering will be used for exploration and development on the Company’s Yukon gold properties and for general corporate purposes.
About Golden Predator Corp.
Golden Predator Corp.’s mandate is to be the leading gold property explorer and developer in Yukon, Canada. The Company has a vast Yukon property position with three advanced gold projects, 6 pipeline prospects as well as exploration landholdings comprising over 2,000 km2. The 2011 winter drilling program has commenced at the Brewery Creek and Grew Creek projects. In 2011 the Company will continue aggressive drill programs and work towards completing initial resource estimates for Grew Creek and Clear Creek and updating the existing resource estimate for Brewery Creek, in addition to conducting initial drilling at the recently acquired Harlan project.
