A private placement with a company director has been reduced to 100,000 common shares at $1.10 per share because of current market conditions, Kewagama Gold Mines (Quebec) reports.
Also, subject to regulatory approval, the company has agreed to exchange shares with National Mineral, a private company holding several mining properties, on the basis of three National shares for one Kewagama share. The transaction is based on Kewagama stock being valued at $1.20 per share.
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