- Gelum Resources (GMR) has closed its private placements for aggregate proceeds of $937,500.00
- The company issued 1,485,714 flow-through (FT) shares for gross proceeds of $520,000 and 1,670,000 non-flow through (NFT) units for proceeds of $417,500
- Net proceeds will be used for exploration and drilling on its Eldorado Project
- Gelum Resources is a BC-based mineral exploration company
- Gelum Resources Ltd. (GMR) opened trading at C$0.27 per share
Gelum Resources (GMR) has closed its previously announced private placements for aggregate proceeds of $937,500.00.
The company issued 1,485,714 flow-through (FT) shares for gross proceeds of $520,000 and 1,670,000 non-flow through (NFT) units for additional proceeds of $417,500.
Each NFT unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share of the company at a price of $0.45 per share for a period of 18 months from the closing of the offering. The warrants are subject to an acceleration clause.
All securities issued have a four-month hold period.
Finder’s fees and warrants were paid to Glores Securities Inc., Haywood Securities Inc. and Canaccord Genuity Corp.
Net proceeds will be used to for exploration and drilling on its Eldorado Project in B.C. and for general working capital.
Gelum Resources is a mineral exploration company. Its principal project is the Eldorado Gold Property located in the Bralorne-Bridge River Gold district in south-central British Columbia.
Gelum Resources Ltd. (GMR) opened trading at C$0.27 per share.
