On Friday July 22, 2011, Stakeholder Gold Corp. (TSX). a company created as a result of extension of Hinterland Metals Inc.’s Yukon gold assets, has gladly announced its acquisition of conditional approval from the TSX Venture Exchange for a non-brokered private placement for up to 7,142,858 units at a purchase price of $0.35 per unit for gross proceeds of up to $2,500,000 with each unit consisting of one common share and one half a share purchase warrant.
As per the terms and conditions of the approval, the share holder will be authorized to purchase one common share at a price of $0.50 per share for a period of 12 months from closing for each full warrant. The issuance of securities to be sold under the private placement is subjected to exemptions from the prospectus and registration requirements of applicable securities laws. It is pursuant to the receipt of mandatory regulatory approvals and is entitled to a holding period of four months from closing.
The Stakeholder plans to utilize the revenue incurred from the private placement as general working capital and to conduct exploration work on its properties.
Finder’s fees will be payable to eligible agents within the Exchange guidelines.
Shares of SRC fell 1% to $0.39
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