LAST BUT NOT LEAST — Caribgold nets $4.1 million

Caribgold Resources (CDN) has completed a placement of 2.5 million units to a group of European investors.

Each unit consists of one common share and half a warrant at $1.65 per unit. Each whole warrant will entitle the holder to buy one common share for $2 until Dec. 31, 1994. The issue, completed by Gordon Capital and Yorkton Securities, should net Caribgold $4.1 million.

The company also recently issued 2 million special warrants at $4 each to raise $8 million.

Caribgold will use the proceeds of the offerings, which total $12 million, to explore for base and precious metals on a 3,576-sq.-km Cuban property optioned from a state-owned corporation, Geominera S.A. Caribgold plans to earn a half interest in the project.