Strait Gold Corporation (TSX-V: SRD) has closed the final tranche of its private placement. The company has place 2,739,000 units resulting in gross proceeds of $273,900. The company had previously announced that they closed the first tranche of the private placement having placed 2,689,000 units for gross proceeds of $268,000.
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Each unit contains 1 common share and 1/2 of a share purchase warrant. A whole warrant enables its holders to purchase an additional common share for $0.15 per share for 18 months from closing. The securities issued in the second tranche are restricting from trading until May 12, 2010. 50,000. The company plans to use its net proceeds for working capital and to fund exploration on its Alicia Property.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active in Peru and listed on the TSX Venture Exchange. It has an option to earn a 100% interest in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-silver property and the Culebrilla gold-silver property, both in Ancash Department approximately 250 km north of Lima.
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