Loncor Gold Inc.: announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

16 Mar 2015capital raising announcement● Neutral

Loncor closed a second non-brokered private placement of 3,000,000 shares at Cdn$0.06, raising Cdn$180,000 for general corporate purposes, following the February round. Arnold Kondrat bought 500,000 shares and now holds 14,300,818 shares (16.94%); he is now titled President and CEO, rather than interim.

What it means for a shareholder

3.0m new shares at C$0.060 to raise about C$180,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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19 Feb 2015capital raising announcement● NeutralMajor

Loncor closed a non-brokered private placement of 8,000,000 shares at Cdn$0.06, raising Cdn$480,000 for general corporate purposes. Arnold Kondrat, now described as interim President and CEO, bought 3,500,000 shares and holds 13,800,818 shares (16.95%). This is new funding after earlier filings did not discuss financing; Peter Cowley is no longer named as CEO, though the filing does not explain his departure.

What it means for a shareholder

8.0m new shares at C$0.060 to raise about C$480,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

Create a free account to see this worked out for your own holding.

Discuss in chat