More news - change of pp.Oct 02, 2007 11:13 ET
Glencairn Announces Increase in Private Placement Financing to $25 Million
TORONTO, ONTARIO--(Marketwire - Oct. 2, 2007) -
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Glencairn Gold Corporation (the "Company") (TSX:GGG)(TSX:GGG.WT)(AMEX:GLE) is pleased to announce that it has increased its previously announced private placement financing from $22 million to $25 million. Orion Securities Inc. and a syndicate of underwriters including Blackmont Capital Inc., Dundee Securities Corporation and Wellington West Capital Markets Inc. have agreed to purchase, on an underwritten private placement basis, 40 million units and 127 million subscription receipts at a price of $0.15 per unit or subscription receipt, as the case may be, for aggregate gross proceeds of $25,050,000. The terms of the units and the subscription receipts are described in the press release issued earlier today.