Business
StrikePoint Gold Inc. closes $7,188,984 private placement
StrikePoint Gold Inc. closes $7,188,984 private placement
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"\n\n\n\nDec. 17, 2009 (Canada NewsWire Group) -- CALGARY, Dec. 17 /CNW/ -- StrikePoint Gold Inc. (\"StrikePoint\") (TSXV: SKP) announces that the Private Placement announced and amended in press releases dated November 26, 2009 and November 30, 2009, respectively, has closed.The Private Placement, led by Dundee Securities Corporation and including PI Financial Corp. (the \"Agents\") included the sale of 4,687,200 common shares issued on a flow-through basis pursuant to the Income Tax Act (Canada) (the \"Flow-Through Common Shares\") at a price of $0.47 per Flow-Through Common Share for gross proceeds of $2,202,984 and the sale of 12,465,000 non-flow-through units (the \"Units\") at a price of $0.40 per Unit for gross proceeds of $4,986,000, each Unit being comprised of one common share and one-half of one transferable common share purchase warrant. Each full warrant is exercisable into one common share of the Corporation at an exercise price of $0.60 for a period of 24 months from the closing date. The total gross amount raised in the Offering was $7,188,984. The sale of 12,465,000 Units represents a 125,000 Unit increase over the amount announced in StrikePoint's press release of November 30, 2009.As consideration to the Agents, the Corporation has paid a commission of 6.0% of the total proceeds raised upon closing and has issued Agents' warrants (the \"Agents' Warrants\") equal to 6.0% of the Units and Flow-Through Common Shares issued pursuant to this Offering. Each Agents' Warrant will be exercisable to acquire one common share at $0.60 for a period of 24 months from the closing date. The securities issued under this financing will be subject to a four month hold period from the date of closing of the offering.The Corporation intends to use the net proceeds for exploration of its mineral properties located in Manitoba. Expenditures from the Flow-Through Common Shares will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2009 taxation year.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-looking StatementsThis press release contains forward-looking statements. Any statements that are contained in this press re...