- Big Ridge Gold Corp. (BRAU) has closed a non brokered private placement for gross proceeds of $2,525,000
- The company issued 12,625,000 units at $0.20 per unit
- The gross proceeds will be used to incur Canadian exploration expenses related to fund resource expansion drilling at the Hope Brook Gold Project
- The securities issued are subject to a statutory hold period expiring November 26th, 2022
- Big Ridge Gold’s (BRAU) share price remained unchanged at C$0.155 per share in early morning trading
Big Ridge Gold Corp. (BRAU) has closed its previously announced non-brokered private placement for gross proceeds of $2,525,000.
The company issued 2,625,000 units at $0.20 per unit. Each unit consists of one flow-through common share (FT Share) and one half of one common share purchase warrant.
Each whole warrant entitles the holder to purchase one common share for $0.27 over the 24-month period following closing of the Offering.
The FT Shares comprising the Units qualify as “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada).
According to Big Ridge, the company intends to use the net proceeds of the Offering to fund resource expansion drilling at the Hope Brook Gold Project.
The securities issued under the offering are subject to a four-month hold period expiring November 26th, 2022.
Big Ridge Gold Corp’s (BRAU) share price remained unchanged at C$0.155 per share in early morning trading.
