RE: Goldnev Resources Inc. Announces Closing of Pr"any idea what does this "the majority" mean?"
The original private placement offered was:
a Non-Brokered Private Placement of up to 6,000,000 Units at a price of $0.20 per Unit, to qualified purchasers under applicable securities legislation, for gross proceeds of $1,200,000.00. Each Unit will consist of one common share and one common share purchase warrant. Each full warrant shall entitle the holder to purchase one additional common share of the Corporation at a purchase price of $0.30 cents per common share for twelve months from the closing of the sale of the Units.
The majority that was filled was:
The total gross proceeds raised from the private placement financing was $1,022,000, resulting in the issuance of 5,110,000 Units. Each Unit consisted of one common share and one common share purchase warrant at a price of $0.20 per Unit.
There was also added broker and finder fees warrants, needed during tough times.
What you haven't seen yet is that Marc Dame participated in his own private placement :
" the Private Placement is classified as a "related party transaction" as Marc Dame (the "Related Party"), is an officer, director and 25% shareholder of a company (the "Purchaser") which has purchased Units. The Purchaser has subscribed for a total amount of $600,000 of the private placement financing representing 3,000,000 Units."
I've posted before that Marc in his own words has supported the company for the last year and will continue to do so if necessary.
rich47.