This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Hawthorne Gold closes $136,000 final tranche 2009-11-06 20:39 ET - News Release Mr. Richard Barclay reports HAWTHORNE CLOSES NON-BROKERED PRIVATE PLACEMENT
Hawthorne Gold Corp., further to its news release in Stockwatch on Oct. 29, 2009, has closed a final tranche of 340,000 units at a price of 40 cents per unit for additional gross proceeds of $136,000. As disclosed in the company's Oct. 29, 2009, news release, the company previously closed on 1,062,500 units at a price of 40 cents for gross proceeds of $425,000. In total, the non-brokered offering consisted of 1,402,500 units for gross proceeds of $561,000.
Each unit consists of one common share in the capital of the company and one-half of a transferable share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of 50 cents per common share for a period of 12 months following the closing of the non-brokered offering. The warrants are subject to an accelerated exercise provision in the event that the trading price of the common shares have closed at or above 75 cents or more for a period of 10 consecutive trading days after closing of the non-brokered offering. If this occurs, the company can elect to give notice to the warrantholders via news release that the warrants will expire 30 days following the date of such news release.
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