Business
Japan Gold increases previously announced Non-Brokered Private Placement to up to C$6,500,000
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2019) - Japan Gold Corp. (the " C...
About this update from Japan Gold Corp
[{"type":"text","content":"Japan Gold increases previously announced Non-Brokered Private Placement to up to C$6,500,000Vancouver, British Columbia--(Newsfile Corp. - August 6, 2019) - Japan Gold Corp. (the \"Company\") (TSXV: JG) (OTCQB: JGLDF) is pleased to announce that due to increased interest, the Company has increased the size of its previously announced non-brokered private placement from C$5,000,000 to up to C$6,500,000 (the \"Private Placement\"). The Company now plans to issue up to 24,074,074 units (\"Units\") at a price of $0.27 per Unit. In addition, the Company has an over-allotment option to sell additional Units representing 15% of the Private Placement at the offering price.Each Unit will consist of one common share (\"Common Share\") of the Company and one-half of a transferable common share purchase warrant (\"Warrant\"). Each whole Warrant will entitle the holder to purchase one common share of the Company at a price of C$0.42 per common share for a period of 24 months from the date of closing of the financing. The Warrants will contain a forced exercise provision if the closing price of the Common Shares is equal to or greater than C$0.84 for a period of 10 consecutive trading days. Proceeds of the Private Placement will be used primarily for the Company's exploration activities and for general working capital purposes. The closing of the Private Placement is subject to receipt of all necessary regulatory approvals and to a hold period of four months and one day in accordance with applicable securities laws.Red Cloud Klondike Strike Inc. is acting as a Canadian finder in connection with the placement. The Company has agreed to pay finders a cash commission equal to 6.0% of the gross proceeds of the Private Placement and warrants to purchase a number of Common Shares equal to 6.0% of the number of Common Shares issued under the Private Placement. The finder's warrants will be exercisable at C$0.27 per Common Share for a period of 12 months from the date of closing.This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent United States registration or an applicable exemption from United States ...