- Golden Tag Resources (GOG) has closed a non-brokered private placement
- The company issued a total of 13,000,000 units for gross proceeds of $3,250,000
- Each unit consists of one common share and one-half of one share purchase warrant
- Net proceeds of the offering will be used to fund advancement of the San Diego Project in Mexico
- Golden Tag Resources is a Toronto-based mineral resource exploration company
- Golden Tag Resources Ltd. (GOG) is up 1.85 per cent, trading at C$0.275 per share at 11:30 am EST
Golden Tag Resources (GOG) has closed its previously announced, upsized non-brokered private placement.
The company issued a total of 13,000,000 units for gross proceeds of $3,250,000.
In the second tranche, the company issued 5,833,330 units for gross proceeds of $1,458,332.50.
Eric Sprott acquired a total of 4,000,000 units.
Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional share at a price of C$0.40 for 24 months.
The warrants contain an acceleration provision. If the closing price of the shares on the TSXV is $0.70 or more for 10 consecutive trading days the company will have the right to accelerate the expiry date of the warrants.
The securities issued will be subject to a statutory four-month hold period.
Golden Tag intends to use the net proceeds of the offering to fund the advancement of the San Diego Project in Durango Mexico and for working capital and general corporate purposes.
Golden Tag Resources Ltd. is a Toronto-based mineral resource exploration company.
Golden Tag Resources Ltd. (GOG) is up 1.85 per cent, trading at C$0.275 per share at 11:30 am EST.
