RE:RE:PP
Gold Canyon arranges $822,700 second tranche
2013-08-13 16:48 ET - News Release
Mr. Akiko Levinson reports
GOLD CANYON ARRANGES $822,700 SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Gold Canyon Resources Inc. has arranged for a second tranche of its previously announced non-brokered private placement in the amount of $822,700 through the sale of 3,576,957 common share units at a price of 23 cents per unit. Each unit comprises one common share of the company and one non-transferable share purchase warrant which entitles the holder to purchase one further common share of the company at a price of 40 cents per share for a period of two years from the closing date of the private placement. The anticipated proceeds of the offering would be used for additional work on Gold Canyon's Springpole gold project and general corporate purposes.
The private placement is subject to TSX Venture Exchange acceptance, and any securities to be issued will be subject to a hold period of four months from the closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws, and such other further restrictions as may apply under foreign securities laws