Levon Resources Ltd. (TSX-V: LVN) has negotiated a private placement resulting in gross proceeds of $2,000,000 with a syndicate of agents led by Salman Partners Inc. The agents will work to sell up to 5,720,000 units with an oversubscription allotment of $0.5 million. Each unit that is price at $0.35, will contain 1 common share and 1/2 common share purchase warrant. A full warrant enables its holder to acquire, at anytime within 12 months from closing, 1 common share at a price of $0.55.
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The agents will receive a cash commission of 7.0% of the gross proceeds and agent's warrant equal to 7.0% of the aggregate number of units sold. The agent's warrant will be exercisable to purchase 1 common share for $0.55 for 12 months following closing.
Levon is a junior gold and precious metals exploration company exploring the Cordero silver, gold, zinc and lead project near Hidalgo Del Parral, Chihuahua, Mexico. The Norma Sass and Ruf claims located near the Pipeline gold deposit, which is being mined and explored by Barrick Gold Corporation in the heart of the Cortez Gold Trend in Lander County, Nevada, USA.
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