It may have been only 48 hours before Santa's arrival, but Toronto-based Avidian Gold Corp. (TSX-Venture:AVG) had reason to celebrate. The company announced Friday it had completed its previously announced non-brokered private placement of 8,300,000 flow-through units at 10 cents per Flow-Through Unit for gross proceeds of $830,000.
Each Flow-Through Unit consists of one common share in the capital of the Company to be issued on a "flow-through" basis, and one-half common share purchase warrant. Each whole warrant entitles its holder to purchase one common share in the capital of the Company at an exercise price of $0.15 per share for a period of 24 months from the date of issuance.
What`s more, AVG will pay $25,500 in cash compensation to eligible finders and issue to the eligible finders 255,000 compensation warrants. Each Finder's Warrant is exercisable into one Common Share for a period of 24 months at an exercise price of $0.10 per Common Share.
Avidian’s investors were decking the halls with shares worth half a cent more each, or 5.3%, to 10 cents, on volume of 39,000 shares.
