PC Gold Announces $2 Million Private Placement

PC Gold Inc. has signed a deal for a private placement, of 4 million units at 50 cents per unit. Each unit contains one common share plus half a purchase warrant, with strike price of 70 cents and March 12, 2010 expiry date. Gross proceeds will be $2 million, including an exercised over-allotment option. The deal was done through Canaccord, which accepted 50,000 units and 260,000 agent's warrants in addition to cash commission of 6.5% of total gross proceeds. The news release has further details on the deal, and notes that the funds will be used for exploring the Pickle Crow Gold Mine property plus general working capital purposes.

PC Gold has not traded so far today; its last close was on Tuesday, at 45 cents. Current bid is 41 cents. and current ask is 45 cents.

Its Google Finance web page is here.

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