Business
Q-Gold announces non-brokered private placement
VANCOUVER , June 11, 2014 /CNW/ - Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QG...
About this update from Q-gold Resources Ltd
[{"type":"text","content":"\n\n\nVANCOUVER, June 11, 2014 /CNW/ - Q-Gold Resources Ltd. (the \"Company\")\n (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $1,250,000\n (the \"Offering\"), consisting of 50,000,000 Units (each a \"Unit\") at a\n price of $0.025 per Unit.  Each Unit will consist of one common share\n and one common share purchase warrant (the \"Warrant\"), entitling the holder to acquire one additional common share at an\n exercise price of $0.05 for a period of 18 months from issuance,\n subject to the Company's acceleration right.  In the event that the\n closing price (or closing bid, if no sales were reported on a trading\n day) of the Company's common shares as quoted on the TSX Venture\n Exchange (the \"Exchange\") or such other securities exchange, quotation\n system or market on which the common shares are listed and where a\n majority of the trading volume of the common shares occurs) exceeds\n $0.07 per share for a price of twenty consecutive trading days, the\n Company may, within five days of such event, provide notice by way of\n news release of early expiry, in which event the Warrants will expire\n ten days from the date of such news release.\n\n\nManagement of the Company have proposed a motion for its shareholders to\n consider and approve a consolidation of the common shares on the basis\n of one \"new\" common share for up to every five \"old\" common shares, at\n the annual general and special meeting of its shareholders to be held\n on June 20, 2014.  If approved by its shareholders, it is anticipated\n that the shares comprising any Units issued under the Offering will be\n consolidated on the same basis and that the exercise price of such\n Warrants comprising such Units will be adjusted accordingly.  It is\n anticipated that pricing of the Offering at $0.025 per Unit will be\n conditional on the Company's shareholders approving the consolidation. \n There can be no guarantee or assurance that such approval will be\n obtained.\n\n\nAll securities issued in connection with the Offering will be subject to\n a four month restriction from resale as stipulated under applicable\n securities legislation and the Exchange.\n\n\nA finder's fee may be payable in relation to the proposed priv...