- Kinross Gold (K) has entered into a $4,014,414 subscription agreement with Allegiant Gold
- Kinross will acquire 10,036,034 units of Allegiant Gold in a non-brokered private placement
- On closing Kinross will own 9.9 per cent of the issued shares of Allegiant
- Kinross operates the Round Mountain gold mine, located across the valley from Allegiant’s Eastside project
- Allegiant Gold Ltd is a gold exploration company
- Allegiant Gold Ltd. opened trading at C$0.36 per share
Allegiant Gold (AUAU) has announced a C$4.0M investment by Kinross Gold Corporation for exploration at the Eastside Property.
Kinross will acquire 10,036,034 units of Allegiant at $0.40 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant shall entitle the holder to purchase one additional common share at a price of $0.70 exercisable over two years following the closing date.
On closing, Kinross will own 9.9 per cent of the issued shares of Allegiant.
Kinross operates the Round Mountain gold mine, located across the valley from Allegiant’s Eastside project. Round Mountain is one of the largest open-pit gold mines in the United States.
Peter Gianulis, CEO of Allegiant Gold commented on the investment.
“We are very excited to have Kinross as a strategic partner, given their experience and prominent presence in Nevada, and the relative close proximity of their flagship Round Mountain Mine, which shares many similar geological characteristics to Eastside. Allegiant and Kinross have developed an excellent rapport over the years, and we look forward to a productive and collaborative working relationship with them.”
Allegiant Gold is a gold exploration company with several projects in Nevada.
Allegiant Gold Ltd. (AUAU) opened trading at C$0.36 per share.