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FINWIRES

Fairchild Gold Raises C$2.2 Million Via Non-Brokered Private Placement

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Fairchild Gold (FAIR.V) closed its non-brokered private placement financing raising C$2.2 million, it said in a statement late Thursday.

The Vancouver, BC-based company placed 37.4-million units at C$0.06 apiece. Each unit is comprised of one common share and one common share purchase warrant, with each whole warrant being convertible into an additional common share at C$0.10 for a period of sixty months from the date issued, the mining company said.

Proceeds will be used to complete the closing of the Golden Arrow project acquisition in Nevada and for general working capital needs. Three company insiders subscribed for a total of 12-million units under the offering.

Shares of the company were last seen unchanged at C$0.05 on the TSX Venture Exchange.

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