first tranche of PP has closed
ET | Source: Core Gold Inc.
VANCOUVER, B.C., Dec. 18, 2017 (GLOBE NEWSWIRE) -- Core Gold Inc. ("Core Gold" or the "Company") (TSXV:CGLD) (OTCQX:CGLDF) is pleased to announce that it has closed the first tranche of its previously announced (on December 1, 2017) non-brokered private placement of units for aggregate gross proceeds of up to $1,300,000 (the "Private Placement").
The Company issued 3,163,000 units of the Company (the "Units") at a price of $0.30 per Unit for aggregate gross proceeds of $948,900. Each Unit is comprised of one common share of the Company (each a "Common Share") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.45 for a period of two (2) years following the date of issuance, subject to acceleration in the event that the closing price of the Common Shares is $0.60 or higher over a period of ten (10) consecutive trading days. The securities issued pursuant to this tranche of the Private Placement are subject to a four month hold period that expires on April 19, 2018.