Labrador Gold (LAB.V) announced and immediately closed a C$3M placement which consisted of 10.5 million hard dollar units and 1.25 million flow-through units. The hard dollar units were priced at C$0.25 and consisted of one common share and half a warrant, allowing the warrant holder to purchase an additional share for C$0.35. The flow-through units were priced at C$0.35 with half a warrant exercisable at C$0.40.
Approximately 35% of the offering was taken by insiders of the company, Cathy Wood and Rob McEwen, and that could be considered an important vote of confidence for Labrador Gold’s exploration strategy and general business plan.
Go to Labrador Gold’s website
The author has a long position in Labrador Gold. Please read the disclaimer
