Guyana pursues placement

Guyana Goldfields (YGI-V) will attempt to raise $400,000 by way of a brokered private placement.

The placement comprises 1 million units priced at 40 each. A unit consists of a share and half a warrant. A full warrant entitles the holder to buy an additional share at 65 within 18 months.

Northern Securities is underwriting the deal in exchange for 8% of the gross proceeds and 100,000 warrants. The warrants can be converted into shares at 40 each for two years after the closing.

Part of the proceeds will go to the Peters and Aurora gold properties in Guyana.