IKN

Take physic, pomp

Ventana Gold (VEN.to): The financing happened, but…..

…..it can hardly be called dilutive.

It’s that man again, as Ross Beaty opens his wallet and plops down $6m or so to buy more VEN.to and up the holding to 12.2% (fully diluted after the warrants kicker at $2) of this regional play. Just recently he bought a large chunk of Amerigo Resoures (ARG.to). This time it’s less copper in Chile and more gold in Colombia. Here’s the PR:

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VANCOUVER, BRITISH COLUMBIA–(MARKET WIRE)–Mar 30, 2009 — Ventana Gold Corp. (Toronto:VEN.TO – News) (“Ventana” or “the Company”) has arranged for a non-brokered private placement of 4.3 million units at a price of $1.40 per unit for gross proceeds of $6,020,000. The transaction is fully subscribed by Lumina Capital LP, an entity held principally by Vancouver mining entrepreneur Ross Beaty.

Each unit comprises one common share and one non-transferable share purchase warrant entitling the holder to purchase one common share at a price of $2.00 per common share for a period of two years following the close of the transaction.

Ventana President and CEO Richard Warke said: “Lumina has been a strong supporter of Ventana in the past and we are pleased to see their interest increase to 8.5%, or 12.2% on a fully diluted basis. Their additional investment shows their confidence in our company and the exciting potential of the La Bodega property.”

The boring regulatory stuff on the link here

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