- Japan Gold (JG) has closed the first tranche of a non-brokered private placement for gross proceeds of $5,700,000
- Japan Gold intends to use the proceeds for drilling, drill targeting, advancing the prospect pipeline from the company’s large portfolio of exploration projects, and for general working capital purposes
- Japan Gold is a Canadian mineral exploration company, focusing solely on gold exploration across the three largest islands of Japan
- Japan Gold Corp. (JG) was down 2.78 per cent, trading at C$0.175 per share at 5:05 pm ET
Japan Gold (JG) has closed the first tranche of a non-brokered private placement for gross proceeds of $5,700,000.
In the first tranche of the offering, the company issued 28,500,000 shares at $0.20 per share. An insider of the company also subscribed for 15,000,000 shares for aggregate gross proceeds of $3,000,000.
In connection with the offering, the company paid $275,000 in cash and issued 1,925,000 finder’s warrants to arm’s length finders. The finder’s warrants are exercisable at C$0.20 per share for a period of 12 months from the date of closing.
Japan Gold intends to use the proceeds for drilling, drill targeting, advancing the prospect pipeline from the company’s large portfolio of exploration projects, and for general working capital purposes.
All securities issued will be subject to a statutory hold period of four months expiring on September 10, 2023.
About Japan Gold
Japan Gold is a Canadian mineral exploration company. It focuses solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu, and Kyushu.
The company holds a portfolio of 34 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization.
Japan Gold Corp. (JG) was down 2.78 per cent, trading at C$0.175 per share at 5:05 pm ET.
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