Vancouver-based Golden Bear Minerals (GB-V) has announced a private placement to fund property work and repay loans.
The company will place up to 5 million special warrants at $1.60 each. Each special warrant is convertible into one unit consisting of one common share and one share purchase warrant.
Each warrant will entitle the holder to buy one common share at $1.70 during the first year and $1.85 in the second.
Fifty per cent of the funds received on closing will be paid to the company, while the balance will be held in escrow. The placement is still subject to regulatory approval.
Golden Bear holds interests in exploration properties in Indonesia, Venezuela and Guyana.
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