11:59 AM EST - Gryphon Gold Corp. : announced a proposed private placement of up to 11 million units at a price of $0.17 per unit to accredited investors. Each unit will consist of one share of common stock and one half of a common stock purchase warrant. The Warrants will be exercisable for a period of 24 months from date of issue at a price of $0.25 U.S. The net proceeds of the private placement will be used for working capital purposes. Gryphon Gold Corp.
shares T.GGN are trading down $0.005 at $0.21.
