A private placement of one million flow-through shares at $1.50 per share has been arranged by Geddes Resources (TSE) with Northgate Exploration (TSE). The placement is subject to regulatory approval.
Based on the number of common shares outstanding, the issue of these shares will increase Northgate’s ownership to 27% in Geddes.
Geddes says its plans to use the $1.5 million to continue exploration at its Windy Craggy copper- gold-cobalt property in northwestern British Columbia.
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