CGN Deal done at .775c net
The deal was done at .85c but the company only receives .775c/share, a very big haircut of 5% commission!! Total expenses almost $5,000,000 which is ridiculous for a deal that size. Who was this paid to and why so high? Anyone know? The Company completed a private placement with CGN Mining, under which CGN Mining purchased 96,736,540 common shares at a price of $0.85 per share, for gross proceeds of $82,226,059. The Company paid agents commissions of $4,111,303 plus estimated expenses of $650,000.