Golden Phoenix Minerals Inc. announced that it has received $0.40 million in funding.
July 12, 2012 at 12:00 am EDT
Golden Phoenix Minerals Inc. (OTCBB:GPXM) announced a private placement of 8,000,000 warrants for gross proceeds of $400,000 on July 12, 2012. The transaction saw participation from an institutional investor who is an accredited investor. The 2,000,000 warrants will be exercisable for $0.04 per share, and 4,000,000 of the warrants will be exercisable for $0.08 per share. The warrants are exercisable for a period of five years from the date of issuance, or through July 12, 2017. The securities will be issued pursuant to Regulation D.
On July 12, 2012, Golden Phoenix Minerals Inc. closed the transaction.