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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2014) - Suparna Gold Corp. ("Suparna" or the "Company") (TSX VENTURE:SUG) is pleased to announce that it has completed its previously announced private placement of units (each, a "Unit"). Suparna issued a total of 9,515,000 Units at a price of $0.10 per Unit for gross proceeds of $951,500. Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.17 per share at any time within 12 months of the date of issuance, however, if the volume weighted average closing price of the Common Shares exceeds $0.25 per share for more than 30 consecutive trading days, Suparna may accelerate the Warrant exercise period to a date which is 30 calendar days following the date a press release is issued by Suparna announcing the reduced Warrant exercise period. In connection with the completion of this private placement, the Company paid aggregate cash finder's fees in the amount of $36,155 to eligible finders who introduced subscribers to the private placement. All of the securities issued under the private placement are subject to a four month resale restriction. |
