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Ventana Gold to raise $38.98 million through private placement

Oct 16, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Ventana Gold Corp (VEN)

Ventana Gold Corp., a Canada-based mineral exploration company, has announced a private placement of 4 million common shares at a price of CAD10 ($9.72) per share to raise total gross proceeds of CAD40 million ($38.98 million).

The transaction is expected to occur on or about November 4, 2009.

TD Securities, Inc. is acting as financial advisor for the transaction. 

Deal Value (US$ Million) 38.98
Deal Type                Private Placement
Sub-Category             None
Deal Status              Announced: 2009-10-15

Deal Participants 

Target (Company)   Ventana Gold Corp.
Acquirer (Company) Undisclosed Investors

Deal Rationale

Ventana Gold intends to use the net proceeds from the placement to fund further exploration and development of its properties and for general corporate purposes. 

Offer Price ($ per share) 9.72
No. Shares Issued         4000000

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: Ventana Gold Corp (VEN)


Related terms: canada, corporate, exploration, gold, Private Placement, securities

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