- Contact Gold (C) has closed the first tranche of its private placement for gross proceeds of C$2,880,000
- The company will use the proceeds to undertake further exploration at its Green Springs Gold Project and Pony Creek Gold Project
- The second tranche of the previously announced $3M financing is scheduled to close on or about November 29, 2021
- Contact Gold is a mineral exploration company focused on making district-scale gold discoveries in Nevada
- Contact Gold (C) is unchanged trading at $0.05 per share
Contact Gold (C) has closed the first tranche of its private placement for gross proceeds of C$2,880,000.
The company issued 57,600,000 units at a price of $0.05 per unit.
The offering included subscriptions by several insiders for an aggregate of 12,770,420 units.
Each unit consists of one common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to purchase one common share for $0.075 for 24 months from the closing date, subject to acceleration with 30 days’ notice.
Contact will use the proceeds to undertake further drilling at its Green Springs Gold Project and continued exploration at the Pony Creek Gold Project, as well as for general working capital purposes.
The second tranche is scheduled to close on or about November 29, 2021.
The previously announced non-brokered financing is up to $3M.
Contact Gold is a mineral exploration company focused on making district-scale gold discoveries in Nevada.
Contact Gold (C) is unchanged trading at $0.05 per share as of 10:12 am EST.
