Each one in plain English, with the numbers worked through for a shareholder.
10 Jan 2008capital raising announcement▲ Good
Lincoln Gold announced it is completing a non-brokered private placement of 2,500,000 units at US$0.20 per unit for US$500,000, double the US$0.10 price of the May and August 2007 placements. The filing does not say what the units include or what the money is for, and says the company has not yet decided whether it qualifies as a foreign private issuer.
What it means for a shareholder
2.5m new shares at US$0.200 to raise about US$500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Lincoln Gold closed another private placement on August 23, 2007: 4,250,000 units at US$0.10 to 16 investors for US$425,000 (2,700,000 units for $270,000 under Regulation S and 1,550,000 units for $155,000 under Regulation D), with no commissions. Each unit carries a two-year warrant at US$0.15, adding to dilution at the same price as the May 2007 raise.
What it means for a shareholder
4.3m new shares at US$0.100 to raise about US$425,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Lincoln Gold completed a private placement on May 14, 2007 of 3,275,000 units at US$0.10 each with 25 investors, raising US$327,500 (commissions of $19,425). Each unit has one share and a warrant to buy another share at US$0.15 within two years, so existing shareholders are diluted; this is far below the $0.30 per unit price of the 2004-2005 financings.
What it means for a shareholder
3.3m new shares at US$0.100 to raise about US$327,500. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Lincoln Gold signed an option agreement with Almaden Minerals on April 12, 2007 to earn a 60% interest in the La Bufa Property in Chihuahua, Mexico, by spending US$3,500,000 on work over four years (US$500,000 in year one is a firm commitment) and issuing 1,550,000 shares to Almaden; 150,000 shares have already been issued. It replaces the August 8, 2005 letter of intent (51% for US$2.0 million over 4 years, under which 130,000 shares were issued), and Lincoln can terminate on 30 days' notice.
16 Mar 2005capital raising announcement● NeutralMajor
The company raised a second round on March 10, 2005, selling 3,158,000 units at $0.30 for $947,400 to 53 investors, on the same terms as the December 2004 units (warrant at $0.40 in year one, $0.50 in year two). It paid commissions of $38,010 on the Regulation S part and $4,200 on the Regulation D part, and agreed to file a resale registration statement within 120 days. This adds further shares and warrants for existing holders.
What it means for a shareholder
3.2m new shares at US$0.300 to raise about US$947,400. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
27 Dec 2004capital raising announcement● NeutralMajor
The company sold 2,300,000 units at $0.30 each for $690,000 in total to five investors, completed December 20, 2004. Each unit has one share and one warrant to buy another share at $0.40 in the first year or $0.50 in the second year. It must file a registration statement for resale of the shares by April 19, 2005, and existing shareholders face dilution from the new shares and any warrant exercises (an inference).
What it means for a shareholder
2.3m new shares at US$0.300 to raise about US$690,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
