Re: Galahad Metals Completes 2nd Tranche of Private Placement
posted on
Mar 25, 2011 07:13PM
The second trench was from a second Quebec fund. We now have 2 institutions involved. Getting these guys involved early is a good thing as if we hit again they will be big supporters. If we do not hit great on this next round of drilling then we do not have to worry about money. Money in the bank is like insurance and is a prudent thing in this business and the economy we are in.
The dilution is about 6%. Not a bad price for having over 1.5M in the bank.
G.