Brief: Loncor announces private placement of common shares

Loncor Gold

09/02/2016 18:59

Feb 9 (Reuters) - Loncor Resources Inc  LN.TO : 
 * Announces private placement of common shares 
 * Non-brokered private placement of up to 67 million common shares of the 
   company at a price of $0.015 per common share 
 * Says the company has immediate capital needs and cannot fund its current 
   obligations. 
 * Says "company is in serious financial difficulty as a result of the decline 
   in gold prices over the last several years" 
 * Says management and board of directors expect offering to provide necessary 
available funding to address co's financial difficulties 
 
 * Source text for Eikon  urn:newsml:reuters.com:*:nCCN27tbwC 
 
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