Canadian miner Castle Peak announces $3m brokered private placement to fund Ghana gold project

Canada-based gold miner Castle Peak Mining Limited on January 20, 2012 says it has entered into an agreement with Euro Pacific Canada Incorporated – an agent – to proceed with a private placement expecting to make gross proceeds of up to $3 million for investment in Ghana.

Castle Peak will offer for sale 12 million units at $0.25 per unit with each consisting of one common share of the company and one-half of one share purchase warrant.

“Proceeds from the private placement will be used to fund the 2012 exploration program at Castle Peak’s Akorade project in Ghana, as well as working capital,” said Castle Peak in a statement.

“The offering is anticipated to close on or before March 20, 2012 and is subject to receipt of all necessary approvals including the acceptance of the TSX Venture Exchange,” it said.

By Ekow Quandzie