Business
Golden Predator Raises $2,700,000
Golden Predator Raises $2,700,000
About this update from Scandium International Mining Corp.
[{"type":"text","content":"\nGolden Predator Raises $2,700,000\n\n\n Aug. 13, 2009 (Baystreet.ca) -- VANCOUVER, BRITISH COLUMBIA -- Golden Predator Royalty and Development Corp. (TSX VENTURE: GPD) (the \"Company\") announces that it has closed the previously announced non-brokered flow-through private placement of up to 3,000,000 flow-through common shares at a price of $0.50. The offering was oversubscribed and the Company has issued a total of 4,400,000 flow-through shares for gross proceeds to the Company of $2,200,000.\n\nThe $2,200,000 raised by the issuance of flow-through shares is in addition to the $500,000 non flow-through $0.50 unit financing announced July 14th, 2009 under which the Company issued 1,000,000 non-flow through units at a price of $0.50 per unit to Evolving Gold (TSX VENTURE: EVG) as part of Evolving Gold's strategic initiative to deploy capital in near term production opportunities where management is of a high calibre and has a proven track record. Each unit issued to Evolving Gold consists of one common share and one warrant exercisable for an additional common share at a price of $0.75 until January 14, 2011. Evolving Gold is the optionee of the Company's Rattlesnake Hills Property, as consideration for which the Company has received 2,000,000 shares of Evolving Gold to date (which the Company retains) and for which the Company anticipates being issued an additional 1,000,000 shares of Evolving Gold in January 2010. \nThe proceeds of the flow-through private placement will be used to fund the 2009 exploration programs on the Company's Yukon exploration properties, and the proceeds of the non flow-through private placement will be used for general working capital purposes. \nOf the 4,400,000 flow-through shares issued, 730,000 are subject to a hold period expiring November 22, 2009 and 3,670,000 are subject to a hold period expiring December 8, 2009. The shares and share purchase warrants comprised in the 500,000 non-flow-through units are subject to a hold period expiring November 15, 2009. \nThe Company paid finders' fees of $46,290 to registered dealers for the placement of sales of the Flow-Through Shares. \nThe Company also announces that it has appointed John Legg as its Executive Vice-President of Corporate Affairs and General Counsel. Mr. Legg, previously General Counsel for a private mining company operating in Mexico,...