Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Glass Earth to raise C$3M in private placement

Glass Earth to raise C$3M in private placement for Hauraki developments

Dec. 3 (BusinessDesk) - Glass Earth Gold is raising as much as C$3 million in a private placement in Canada to raise funds to develop its Neavesville and WKP projects in the Hauraki region.

The placement follows Glass Earth’s announcement last month that it had gained rights to take over the Neavesville gold and silver prospect from Canadian resource developer Eurasian Minerals. The WKP project is an existing joint venture with Newmont Mining, which owns the Martha Hill mine to the south of Neavesville.

The company will place as many as 18.75 million units at 16 Canadian cents apiece. The units comprise one ordinary share and a warrant exercisable for 24 months to buy an additional share at 25 Canadian cents.

The private placement will consist of up to 18.75 million Units at a price of C$0.16 per Unit. Each Unit will consist of one common share and one common share purchase Warrant. Each Warrant will entitle the holder to purchase one common share at a price of C$0.25 per share, exercisable for a period of 24 months from the date of issuance.

The placement is subject to acceptance by the TSX Venture Exchange.

The shares last traded at 15 Canadian cents on the Canada Venture Exchange and have tumbled 65 percent in the past year. The NZX-listed shares last traded at 24 cents.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news