PP...a full warrant? More dilutionOnce again...too bad STGO has been badly managed that previous IPO Warrants didn't make it into the money.
Now ES gets a shot at his Ulaanbaatar, Mongolia--(Newsfile Corp. - July 9, 2020) - Steppe Gold Ltd. (TSX: STGO) ("Steppe Gold" or the "Company") is pleased to announce a non-brokered private placement of approximately C$15.0 million (the "Private Placement"), through the sale of 6,976,944 subscription receipts (the "Subscription Receipts") at a price of $2.15 per Subscription Receipt, subject to the approval of the Toronto Stock Exchange and, if required, shareholder approval.
Each Subscription Receipt will convert into units (the "Units"), consisting of one common share and one common share purchase warrant, exercisable into one common share at an exercise price of $3.00 per common share for a period of 24 months from the closing date.
Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially controlled by him, is subscribing for the entirety of the Private Placement