Algold Resources (KKV-V)
kanosakgold.com!
9.2 million o/s
Insiders own 10%
$1 million cash (as of July 12, 2013)
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Algold Resources arranges $3-million second tranche
Sept 23, 2013 - News Release
Algold Resources Ltd. intends to complete a second tranche of its previously announced private placement of an additional maximum of 20 million units at a price of 15 cents per unit for additional gross proceeds of up to $3-million. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 20 cents for a period of 18 months. As previously announced on July 12, 2013, Algold closed a first tranche of 6,774,998 units for gross proceeds of approximately $1,016,250. If the second tranche is completed, total gross proceeds would therefore total a maximum of approximately $4,016,250. The company wishes to clarify that, in connection with the first tranche of the private placement, it paid a cash commission of $18,400 and issued 122,667 agent warrants, each entitling the holder to subscribe for one unit at a price of 20 cents at any time prior to Jan. 11, 2015.
In other news, Algold announces that it has increased the maximum number of common shares reserved for issuance under its stock option plan from 913,702 to 1,606,352, representing 10 per cent of the outstanding common shares to date. This increase is subject to the approval of the TSX Venture Exchange.
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Key people
Benoit Lasalle – Chairman
Founder of SEMAFO (SMF-T), and a well-known mining entrepreneur in Canada and Africa. Grew SEMAFO from junior explorer to a +250 000 ounces per year gold producer in West Africa (3 mines), Chairman of Sama Resources (SME-V) exploring for Nickel in Cote d’Ivoire. Currently Chairman of Canadian Council on Africa.
Yves Grou – Director
PA and CA, cofounder and former CFO of SEMAFO and AFCAN Mining, sold to Eldorado Gold in 2004. Co-founder in 1980 and partner until 2004 of Grou, La Salle & Associates CA, in Montreal (Qc),
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