Pacific Sentinel private placement

A recently arranged private placement of 100,000 units at $1.60 per unit brings the cash position of Pacific Sentinel Gold (VSE) to over $3 million.

The units include a share plus one share purchase warrant exercisable at $1.60 in the first year and $1.84 in the second year.

Prior to the placement, Pacific Sentinel had 6.9 million shares outstanding on a fully diluted basis.

Pacific Sentinel and Cathedral Gold (TSE) are exploring a land package covering over 300,000 acres near Anchorage, Alaska. This year’s program, budgeted at $600,000, includes widespread geological mapping, sampling and geophysical surveys to identify prospective targets.

Jeffrey Franzen, a director of Pacific Sentinel, said the company is also continuing with its search for more advanced mineral projects.