Business
Batero Gold Corp. Announces CDN$10 Million Bought Deal Private Placement Financing
Batero Gold Corp. Announces CDN$10 Million Bought Deal Private Placement Financing
About this update from Batero Gold Corp.
[{"type":"text","content":"\n\n\n\n Sep. 24, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n VANCOUVER, Sept. 24 /CNW/ - Batero Gold Corp. ("Batero" or the "Company") (TSX-V: BAT) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the "Underwriter"), to sell up to 6,250,000 units (the "Units") on a private placement bought deal basis at a price of CDN$1.60 per Unit for aggregate gross proceeds of CDN$10,000,000 (the "Offering"). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to subscribe for one additional common share for a period of 24 months from the closing of the Offering at an exercise price of CDN$2.35.\nThe Company will grant the Underwriter an over-allotment option to purchase up to an additional 3,125,000 Units for additional gross proceeds of up to CDN$5,000,000, exercisable 48 hours prior to the closing of the Offering.\nThe Company intends to use the net proceeds raised under the Offering for exploration of the Batero-Quinchia Gold Project, Colombia and for general working capital purposes.\nThe Offering is scheduled to close on or about October 14, 2010 and is subject to certain conditions including, but not limited to, receipt of all required regulatory approv...