- MAS Gold Corp. (MAS) has launched a non-brokered private placement for gross proceeds of up to C$1,500,000
- The company will issue up to 11,111,111 units and up to 20,000,000 flow-through units
- Net proceeds will be used to fund the exploration of the company’s projects
- MAS Gold Corp. is a Canadian mineral exploration company focused on advancing its gold exploration projects in Saskatchewan
- MAS Gold Corp. (MAS) is unchanged on the day, trading at C$0.04 per share at 11 am ET
MAS Gold Corp. (MAS) has launched a non-brokered private placement for gross proceeds of up to C$1,500,000.
The company will issue up to 11,111,111 units at $0.045 per unit for gross proceeds of up to C$500,000 and up to 20,000,000 flow-through units at $0.05 per FT unit for gross proceeds of up to C$1,000,000.
Each unit will consist of one common share and one share purchase warrant. Each FT unit will consist of one flow-through share and one warrant. Each warrant will entitle the holder to purchase one additional common share for a period of 24 months.
Net proceeds will be used to fund the exploration of the company’s projects in the La Ronge Greenstone Belt in Saskatchewan, as well as working capital and other general corporate purposes.
The closing of the offering will be subject to the receipt of all necessary approvals, including the approval of the TSXV.
All securities issued will be subject to a statutory four-month restricted resale period.
Red Cloud Securities Inc. will be acting as a finder for the offering. MAS Gold will pay Red Cloud a cash commission of 6.0 per cent of the gross proceeds from securities sold to purchasers that Red Cloud sources. Red Cloud will also receive finder’s warrants exercisable for a period of 24 months following the closing date.
MAS Gold Corp. is a Canadian mineral exploration company focused on advancing its gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan. MAS Gold operates four properties in the belt, including the Preview-North, Greywacke Lake, Elizabeth Lake and Henry Lake Properties totalling 35,175.6 hectares (86,920.8 acres).
MAS Gold Corp. (MAS) is unchanged on the day, trading at C$0.04 per share at 11 am ET.
