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Gold Hunter Resources Inc. (OTC: HNTRF) Closes Oversubscribed Private Placement

Scott Birndorf

Successful operations for raising more capital are significant positives for most companies, and hence, Gold Hunter Resources Inc (OTC: HNTRF) may be on the radars of investors this morning. The company announced yesterday that its non-brokered private placement, which it had announced previously, had been closed. In this feature, we will take a closer look.

Oversubscribed

Gold Hunter announced that it had managed to generate as much as $1706199.92 in the form of gross proceeds from private placement, which had been oversubscribed by as much as 40%. Initially, the company had planned for $1.2 million worth of financing. It was originally announced that Gold Hunter would raise $1.2 million through the issuance of non-flow-through units. However, strong investor demand led to a change, and hence, 28436665 units were issued for $0.06 each.

Further Details

Each unit offered by the company consisted of one common share and half of one transferable common share purchase warrant. Anyone with a whole warrant would be entitled to one additional share in the company for the price of $0.12 up until 24 months from the date of issuance. It remains to be seen how the Gold Hunter stock reacts today.