Business
Prosper Gold Corp. Closes First Tranche of Private Placement
QUESNEL, BRITISH COLUMBIA--(Marketwired - July 6, 2016) - Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSX VENTURE:PGX) is pleased to announce that it
About this update from Prosper Gold Corp.
[{"type":"text","content":"QUESNEL, BRITISH COLUMBIA--(Marketwired - July 6, 2016) - Prosper Gold Corp. (\"Prosper Gold\" or the \"Company\") (TSX VENTURE:PGX) is pleased to announce that it has closed on the first tranche of its non-brokered private placement financing previously announced on June 13, 2016 and June 27, 2016. The first tranche consisted of 4,000,000 hard dollar units (\"Units\") for gross proceeds of $1,000,000 at a price of $0.25 per Unit, with each Unit consisting of one common share (a \"Prosper Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable for one Prosper Share at a price of $0.35 for a period of 36 months from the date of closing of the financing. In connection with the Private Placement and in accordance with the policies of the TSX Venture Exchange, finder's fees totaling approximately $9,125 in cash were paid and approximately 73,500 common share purchase warrants (each, a \"Finder Warrant\") were issued. Each Finder Warrant is non-transferable and exercisable for one Prosper Share for a period of 36 months following closing at an exercise price equal to $0.35. All securities issued pursuant to this Private Placement will be subject to a four month and one day hold period in accordance with applicable securities laws. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and were not permitted to be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act. The net proceeds from the non-flow-through portion of the Private Placement will be used to fund exploration activities for 2016 and for working capital and general corporate purposes. For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com. ON BEHALF OF THE BOARD OF DIRECTORS Peter Bernier President & CEO Unless otherwise specified, all dollar amounts used herein refer to the law currency of Canada. Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as \"may\", \"should\", \"anticip...