- Golden Tag Resources (GOG) has agreed to increase the size of its previously announced private placement for aggregate gross proceeds of up to $3,250,000
- The company will issue a total of up to 13,000,000 units at a price of $0.25 per unit
- Each unit will consist of one common share and one-half of one share purchase warrant
- Net proceeds of the offering will be used to fund advancement of the San Diego Project in Mexico
- Golden Tag Resources is a Toronto-based mineral resource exploration company
- Golden Tag Resources Ltd. (GOG) opened trading at C$0.295 per share
Golden Tag Resources (GOG) has agreed to increase the size of its private placement for aggregate gross proceeds of up to $3,250,000.
The company will issue a total of up to 13,000,000 units at a price of $0.25 per unit.
Each unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional share at a price of C$0.40 for 24 months following the closing of the offering.
The warrants will contain an acceleration provision. If the closing price of the shares on the TSXV is $0.70 or more for 10 consecutive trading days the company will have the right to accelerate the expiry date of the warrants.
The securities issued will be subject to a statutory four-month hold period.
Golden Tag intends to use the net proceeds of the offering to fund the advancement of the San Diego Project in Durango Mexico and for working capital and general corporate purposes.
Golden Tag Resources Ltd. is a Toronto-based mineral resource exploration company.
The company’s wholly-owned San Diego property is among the largest undeveloped silver assets in Mexico and is located within the prolific Velardeña Mining District. Velardeña hosts several mines having produced silver, zinc, lead and gold for over 100 years.
Golden Tag Resources Ltd. (GOG) opened trading at C$0.295 per share.