They can raise a 0.05 and it wont trade at 0.03They just announced an issue at 0.05 and it wont trade at 0.05.....hard to figure
Cheers
Uragold Bay Resources closes $250,000 private placement
Ticker Symbol: C:UBR
Uragold Bay Resources closes $250,000 private placement
Uragold Bay Resources Inc(C:UBR)
Shares Issued 146,550,532
Last Close11/29/2011
.03
Wednesday November 30 2011 - News Release
Mr. Bernard Tourillon reports
URAGOLD CLOSES NON-BROKERED PRIVATE PLACEMENT
UragoldBay Resources Inc. has closed a non-brokered private placement for atotal placement of $250,000. This will result in a total sale of 5,000units at a subscription price of $50 per unit. Each unit comprises1,000 shares to be issued as flow-through shares and 500non-flow-through common share purchase warrants of the company. Of thesubscription price of $50 per unit, the company hereby allocates $49 tothe price of the unit shares included in each unit and $1 to the priceof the warrants included in each unit. Each warrant will entitle theholder thereof to purchase one common share of the capital stock of thecompany that is not a flow-through-share at an exercise price of 10cents during a period of 24 months from the date of closing of theplacement. Each share issued pursuant to the placement will have amandatory four-month holding period from the date of closing of theplacement.
In connection with this placement, which was subscribed for in total byMatrix Quebec 2011 II Flow-Through LP, the corporation will pay a cashfinder's fee of $20,000 to Meadowbank Asset Management Inc.
The private placement is subject to regulatory approval.
© 2011 Canjex Publishing Ltd.