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Precipitate Gold Corporation: Proposed Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2016) - Precipitate Gold Corporation (the "Company" or "Precipitate" or "PRG") (TSX VENTURE:PRG) is pleased
About this update from Precipitate Gold Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2016) - Precipitate Gold Corporation (the \"Company\" or \"Precipitate\" or \"PRG\") (TSX VENTURE:PRG) is pleased to announce it is completing a non-brokered private placement to raise funds for the further development, including drilling, of its Dominican Republic gold projects. The following is a general description of the private placement: it will consist of the distribution of units at $0.25 per unit; each unit consisting of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at $0.35 for 12 months from the date of issue; the placement will be for a minimum of $1,200,000 (4,800,000 units) with the potential to accommodate up to $2,000,000 (8,000,000 units); proceeds will be used to continue exploration at the Company's Juan de Herrera Project in the Dominican Republic, including upgrading new targets (see PRG news release of May 10, 2016) and commencing follow-up drilling at the Ginger Ridge target where the discovery hole reported 18 metres grading 4.5 grams per tonne ('g/t') gold, including 5 metres grading 13.4 g/t gold (see PRG news release of September 24, 2014) and for general working capital purposes; the placement will rely upon the usual exemptions, and in addition, to accommodate participation from existing shareholders, the placement will be available to all persons who held common shares of the Company as of June 30, 2016 (the record date); if aggregate subscriptions for units under the proposed placement exceed the maximum number of units available, the Company will allocate units on a proportionate basis as to each subscriber's holdings of the Company's shares as of the record date; and the Company anticipates paying finder's fee in connection with the placement, which may consist of cash and finder's warrants, in accordance with TSXV policies. About Precipitate Gold: Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend of the Dominican Republic. The Company also maintains assets in northern British Columbia and southeast Yukon Territory and is actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder valu...