- Waraba Gold (WBGD) has closed the first tranche of a non-brokered private placement for gross proceeds of $926,000.00
- The company plans to use the gross proceeds for exploration and general working capital purposes
- Waraba is a resource exploration company that is acquiring and exploring mineral properties
- Waraba Gold Limited (WBGD) opened trading at C$0.085 per share
Waraba Gold (WBGD) has closed the first tranche of a non-brokered private placement for gross proceeds of $926,000.00.
In the first tranche, the company issued 9,257,000 units at $0.10 per unit. Each unit shall be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at $0.50 for 12 months following the closing date.
The company plans to use the gross proceeds for exploration and general working capital purposes.
All securities issued will be subject to a statutory hold period of four months.
The offering constitutes a related party transaction as a certain director of the company subscribed for units in the first tranche.
Other update
The company further announced that Jesse Hahn has resigned as a member of the Board of Directors and as Chief Financial Officer effective as of March 24, 2023. The company has appointed Carl Esprey, the company’s current Chief Executive Officer, as the Chief Financial Officer to fill the vacancy.
About Waraba Gold
Waraba is a resource exploration company that is acquiring and exploring mineral properties. The company is a reporting issuer in the provinces of British Columbia and Alberta.
Waraba Gold Limited (WBGD) opened trading at C$0.085 per share.
