- Golden Predator Mining (TSXV:GPY) has completed its short form prospectus offering for total proceeds of C$2.8 million
- The company issued 11,200,000 units, each at a price of $0.25
- Each unit consisted of one Class A common share, as well as half of one common share purchase warrant
- The proceeds will be used to undertake various activities at the company’s Brewery Creek Property
- Golden Predator Mining (GPY) is currently down 3.7 per cent and is trading at $0.26 per share, with a market cap of $40.82 million
Golden Predator Mining (TSXV:GPY) has completed its short form prospectus offering for total proceeds of C$2.8 million.
Headquartered in Vancouver, the company is focused on advancing its past-producing Brewery Creek Property in Canada’s Yukon region. 2020 is set to be a pivotal year for the property, which holds established resources grading over one gram per tonne of gold.
Both a technical report and feasibility level study are currently underway to assess the viability of recommencing heap leach operations at the Brewery Creek Mine.
Under the terms of the fully-subscribed offering, Golden Predator issued a total of 11,200,000 units, each at a price of $0.25.
These units consisted of one Class A common share and half of one common share purchase warrant. The warrants are exercisable at a price of $0.35 for a period of three years from the date of closing.
However, this expiration date may be brought forward should Golden Predator’s share trade at a volume weighted average price equal to or above $0.75 for a period of five consecutive trading days.
The proceeds raised under the offering will be used for various activities at the Brewery Creek property; including bulk sampling, metallurgical column and geotechnical testing, and preparation of an updated mineral resource estimate.
Golden Predator says that a portion of the funds may also be used for oxide core development and metallurgy drilling on the Reserve and Classic Trends at the Brewery Creek Property, as well as for general working capital and corporate purposes.
Golden Predator Mining (GPY) is currently down 3.7 per cent and is trading at $0.26 per share at 12:40pm EDT.