Golden Knight Resources (TSE) has taken down a $3-million private placement in Plexus Resources (TSE). The deal makes Golden Knight, controlled by Teck Corp (TSE), the largest single shareholder with an 18% interest in Plexus.
Plexus’ major asset is a 24% interest in the Rawhide gold project in Nevada, which is scheduled to enter production next year. The company also holds interests in a copper-zinc-gold deposit in California and a copper deposit in Nevada.
The Golden Knight purchase comes in the form of one million units comprising one share and a half share purchase warrant. The warrant allows Knight to buy another share for $3.75 during a one year period. In the second and third years, the warrants can be exercised at $5 and $6 per share respectively.
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