Additional Information
Market: TSX
Sector: General Mining - Gold
EPIC: XG
Latest Price: C$2.95  (0,00%)
52-week High: C$14.57
52-week Low: C$2.27
Market Cap: C$285.91M
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Extorre Gold Mines
www.extorre.com

Extorre Gold Mines is an emerging gold & silver producer in Argentina, which is listed under the symbol XG on the Toronto Stock Exchange (TSX) and the NYSE-AMEX Exchange. The cash position on November 1, 2011, is $35 million. Cerro Moro is Extorre's flagship gold-silver property located in mining friendly Santa Cruz Province.

 

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Extorre Gold Mines to raise $30m through private placement

14th Sep 2010, 8:25 am

Extorre Gold Mines has raised C$30 million through a private placement offering to advance its Cerro Moro project in Santa Cruz, Argentina.

Under the offering, the company has agreed to sell 6.8 million shares at a price of C$4.45 per share for gross proceeds of $30.26 million.

In addition, the company will grant an over-allotment option to purchase up to an additional 2.3 million common shares at $4.45 per share to raise another $10.24 million.

The new funds will be used to extend the discovery drilling program at Cerro Moro, as well as for advancing engineering programs and for general exploration and working capital purposes.

Closing of the offering will occur on or before September 28, 2010 and is subject to receipt of  regulatory approvals.

The shares issued through the offering will be subject to a four-month hold period.

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