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| Home : St. Augustine Announces Private Placement Closing and Option Issuances |
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Jul 18
2014 |
St. Augustine Announces Private Placement Closing and Option Issuances |
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SPOKANE, WASHINGTON--(Marketwired - July 17, 2014) - St. Augustine Gold and Copper Limited (TSX:SAU) ("St. Augustine" or the "Company") is pleased to announce that its previously disclosed (July 2, 2014) private placement with strategic partner and insider Queensberry Mining and Development Corp. ("Queensberry") has closed. 145,000,000 shares were issued at a subscription price of US$ 0.10 per share, for proceeds of US$ 14,500,000. This placement sees Queensberry increase their ownership from 102,718,500 shares representing 21.06% of the issued and outstanding shares currently to 247,718,500 shares representing 39.15% post-closing. The funds received will be used for working capital and to further advance the King-king Project. This includes acquisition of land and the discharge of obligations under the project framework agreement with Nationwide Development Corporation as detailed previously. |
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| Source:http://www.marketwired.com/mw/release.do?id=1930925&sourceType=3 |
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