Thursday, 9th December 2004 (2475 views)

Glencairn Gold has announced that it has closed some of its financing and sold it for gross proceeds of $10 million.

The firm plans to use net proceeds from this move to fund any expenditures left at its Bellavista Mine.

In addition, money will be used for gold and other precious metal exploration and general working capital.

A syndicate of underwriters, including Orion Securities, McFarlane Gordon, RBC Dominion Securities and Desjardins Securities purchased units from the firm.

The items being offered have not been registered in the US and are not allowed to be offered or sold there.

 

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