Junior Delgratia Mining (DELGF-N) has raised US$5.5 million through a private placement of 1 million units at US$5.50 each.
A unit consists of one common share and one share purchase warrant entitling the holder to buy one additional Delgratia share for one year, until Sept. 8, 1997. The purchase price per additional Delgratia share is set at US$6.50 for the first six months, ending March 8, 1997, and US$7.50 for the second six months, ending Sept. 8, 1997.
Delgratia has US$12 million in its treasury (equivalent to US$1.25 per share), with 9 million shares outstanding.
Proceeds from the placement will be used to finance ongoing projects in Nicaragua and Mexico, and to acquire a U.S. gold project, negotiations for which are under way.
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