- MacDonald Mines (BMK) has announced its intention to complete a non-brokered private placement of up to $4.0 million
- MacDonald Mines is also pleased to announce that it has entered into a strategic partnership with GoldSpot Discoveries Corp.
- GoldSpot will assist in the advancement of the company’s SPJ Project by utilizing its artificial intelligence and machine learning technologies to optimize exploration targets
- MacDonald Mines is a mineral exploration company focused on developing its SPJ Project in Northern Ontario
- MacDonald Mines Exploration Ltd. (BMK) is currently trading at C$0.04 per share
MacDonald Mines (BMK) has announced its intention to complete a non-brokered private placement of up to $4.0 million.
The company will issue a minimum of 25,000,000 units for gross proceeds of a minimum of $1.0 million, a maximum of up to 50,000,000 units for gross proceeds of up to $2.0 million and up to 44,444,445 flow-through units for gross proceeds of up to $2.0 million.
Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant may be exercised for one common share at a price of C$0.07 per share for a period of 24 months from the closing of the offering. Each flow-through unit will consist of one share to be issued on a “flow-through” basis, and one-half of one warrant.
MacDonald Mines is also pleased to announce that it has entered into a strategic partnership with GoldSpot Discoveries Corp.
GoldSpot will assist in the advancement of the company’s SPJ Project located near Sudbury, Ontario. GoldSpot will utilize its artificial intelligence and machine learning technologies to optimize exploration targets, allowing MacDonald Mines to better focus drilling efforts.
Commenting on the partnership, Interim Chief Executive Officer of MacDonald Mines Stuart Adair stated,
“We are delighted to welcome GoldSpot as a strategic service provider of MacDonald Mines. The SPJ Project will benefit tremendously from the assistance of GoldSpot’s technologies and data-driven approach to exploration. Our team looks forward to working with the GoldSpot team to evaluate and unlock the potential of the SPJ Project.”
Denis Laviolette, Executive Chairman and President of GoldSpot commented on the transaction with MacDonald Mines.
“GoldSpot is excited to provide our proprietary technology to MacDonald Mines. The size of the SPJ Project’s land package is substantial and we believe the large number of potential targets on the property are ripe for further analysis and refining under our team’s technological and geological guidance.”
MacDonald Mines is a mineral exploration company focused on developing its SPJ Project in Northern Ontario. Following up on its successful 2019/20 exploration and drilling campaigns, MacDonald Mines is focused on what it theorizes to be a large gold system at work on the 19,380 ha property with high-grade gold surrounding the past-producing Scadding Gold Mine and gold/polymetallic mineralization over several kilometres around it.
MacDonald Mines Exploration Ltd. (BMK) is currently trading at C$0.04 per share.
