Dynasty Gold arranges $700,000 financingHello everyone,
Dynasty Gold arranges $700,000 financing
2007-10-05 17:13 ET - News Release
Ms. Ivy Chong reports
DYNASTY GOLD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Dynasty Gold Corp. plans to complete a non-brokered private placement of up to seven million units at a price of 10 cents per unit for gross proceeds of $700,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at 15 cents for the period ending on the first anniversary from the date of closing, and at 20 cents for the period ending on the second anniversary from the date of closing. Finders' fees and warrants may be payable. The private placement is subject to the approval of the TSX Venture Exchange.
The company will use the proceeds of the private placement to finance the Hatu exploration program and for new project evaluation currently under way in the Qinghai province of People's Republic of China.
The company has also granted incentive stock options for the purchase of up to 825,000 common shares to directors and officers of the company at 10 cents per share, exercisable for a period of five years. Stock options granted are subject to vesting period and regulatory approval.
We seek Safe Harbor.
Cheers,
I_luv_GVG