Post by icemandios on Feb 26, 2016 15:16:16 GMT
Pershing Gold Completes Private Placement
Canada NewsWire
LAKEWOOD, Colo., Feb. 26, 2016
LAKEWOOD, Colo., Feb. 26, 2016 /CNW/ -- Pershing Gold Corporation (NASDAQ: PGLC) announced today that it has accepted subscriptions for the sale of approximately $6.9 million in gross proceeds of 2,120,882 Units, with each Unit comprised of 1 share of Common Stock and a 30 month warrant to acquire 0.5 of a share of Common Stock at an exercise price of $5.06, pursuant to subscription agreements with certain accredited investors, at a price of $3.25 per Unit. This investment follows the previous sale of 367,467 shares of the Company's Common Stock to affiliates of the Company, for gross proceeds of approximately $1.25 million. Laidlaw & Co (UK) Ltd. served as exclusive placement agent. ROTH Capital Partners, LLC and Rodman & Renshaw also served as advisors on the transaction.
The Company expects to use the net proceeds for advancement of the Company's Relief Canyon project and for general corporate purposes.
The securities issued in these transactions have not been registered under the Securities Act of 1933, as amended ("Securities Act") or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission for purposes of registering the resale of the Common Stock issued in these transactions and issuable upon exercise of the Warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the units, common stock, warrants or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About Pershing Gold Corporation
Pershing Gold Corporation owns the Relief Canyon Mine property in Pershing County, Nevada.
Canada NewsWire
LAKEWOOD, Colo., Feb. 26, 2016
LAKEWOOD, Colo., Feb. 26, 2016 /CNW/ -- Pershing Gold Corporation (NASDAQ: PGLC) announced today that it has accepted subscriptions for the sale of approximately $6.9 million in gross proceeds of 2,120,882 Units, with each Unit comprised of 1 share of Common Stock and a 30 month warrant to acquire 0.5 of a share of Common Stock at an exercise price of $5.06, pursuant to subscription agreements with certain accredited investors, at a price of $3.25 per Unit. This investment follows the previous sale of 367,467 shares of the Company's Common Stock to affiliates of the Company, for gross proceeds of approximately $1.25 million. Laidlaw & Co (UK) Ltd. served as exclusive placement agent. ROTH Capital Partners, LLC and Rodman & Renshaw also served as advisors on the transaction.
The Company expects to use the net proceeds for advancement of the Company's Relief Canyon project and for general corporate purposes.
The securities issued in these transactions have not been registered under the Securities Act of 1933, as amended ("Securities Act") or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission for purposes of registering the resale of the Common Stock issued in these transactions and issuable upon exercise of the Warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the units, common stock, warrants or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About Pershing Gold Corporation
Pershing Gold Corporation owns the Relief Canyon Mine property in Pershing County, Nevada.