Peterson Law acts for Solvista Gold Corporation as it closes $2.7 Million Private Placement
On May 11, 2011, Solvista Gold Corporation (“Solvista”) closed a private placement of 3,647,063 units at a price of $0.75 per unit for aggregate gross proceeds of $2,735,297. Each Unit consisted of one common share and one-half (½) of one common share purchase warrant (each whole such warrant, a “Warrant”). Each Warrant entitles the holder to acquire an additional common share at a price of $1.10 for a period of 24 months from the date of issuance.
Kinross Gold Corporation purchased all 3,647,063 Units, which represented approximately 9.9% of Solvista’s issued and outstanding share capital on a partially diluted basis on the date of issuance.
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