Pan African Resources, a subsidiary of Golden Star Resources (TSE), will combine with Humlin Red Lake Mines (CDN) and establish itself as a separate, public company.
The subsidiary will issue a private placement of 12 million units at $1 each. A unit will consist of one common share of Pan African and half a Series A warrant. Each warrant will entitle the holder to buy one share at $1.25 for a period of nine months after the issue date.
Proceeds will be used to explore Pan African’s properties in Ethiopia, Gabon, Mali and Ivory Coast.
Be the first to comment on "NEWS ROUNDUP — Pan African plans to go public"