PKL Time To Buy

PC Gold PKL-T Time To Buy before Results Of Tests Reported

A total of 795,240 70-cent warrants were exercised by shareholders on March 12, 2009, for total proceeds to the company of $556,668.

UPDATE 3-PC Gold increases private placement size to C$9.1 mln

14:21 EDT Monday, April 05, 2010

* Increases offering size by 1.15 million shares

* Says to use proceeds for Pickle Crow mine

* To add a fourth drill at Pickle Crow

* Shares rise 11 pct (Recasts; adds details, updates share movement)

April 5 (Reuters) - Canadian gold explorer PC Gold Inc increased the size of its private placement to C$9.1 million ($9.05 million) by offering more shares to underwriters.

Shares of PC Gold, which plans to use the proceeds to fund exploration at its key gold mine in Ontario, were trading up about 11 percent at C$1.61 Monday afternoon on the Toronto Stock Exchange.

The company said it would offer an additional 1.15 million flow-through shares, bringing the total to 5 million, at C$1.82 apiece, a premium of 26 percent to the stock's closing price on Thursday.

The underwriters for the offering, which is expected to occur about April 20, include Cormark Securities Inc and Canaccord Financial Ltd.

The company said a fourth drill would be added to its exploration program at the Pickle Crow gold mine in Ontario, where it made a significant gold discovery late last month.

In March, PC Gold said in an interview that it remains focused on the property, its trump card, and is not on the lookout for any other properties. [ID:nSGE62N0DY]

($1=1.006 Canadian Dollar) (Reporting by Aftab Ahmed and Abhiram Nandakumar in Bangalore; Editing by Anne Pallivathuckal)