Source: GoldON Resources Ltd.
  • GoldON Resources (GLD) has closed a non-brokered private placement financing for $529,000 in gross proceeds
  • The offering included 3,041,668 flow-through units and 1,640,000 non-flow-through units
  • Proceeds will be used to fund the conpany’s initial drilling program at the McDonough Gold Property
  • GoldON is an exploration company focused on discovery-stage properties located in northwestern Ontario
  • GoldON Resources Ltd. (GLD) opened trading at C$0.11

GoldON Resources (GLD) has closed its previously announced non-brokered private placement raising $529,000 in gross proceeds.

The offering included 3,041,668 flow-through units and 1,640,000 non-flow-through units . The FT units were priced at $0.12 and consist of one flow-through share and one non-transferable share purchase warrant that entitle the holder to purchase one additional common share at $0.20 for twelve months. The NFT units were priced at $0.10 and consist of one common share and one non-transferable share purchase warrant.  Each warrant entitles the holder to purchase one additional common share for $0.20 per share for twenty-four months from the closing date of the offering.

The company paid finders’ fees of $6,570 in cash, 21,000 finders’ warrants associated with the FT units and 40,500 finders’ warrants associated with the NFT units.

All securities issued will have a statutory hold period expiring April 30, 2023.

Proceeds will be used to fund the conpany’s initial drilling program at its 100 per cent-owned McDonough Gold Property and for general working capital purposes.

GoldON is an exploration company focused on discovery-stage properties located in northwestern Ontario. Our current project portfolio includes seven properties in the Red Lake Mining District (McDonough, Springpole East, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property in the Patricia Mining District (Slate Falls).

GoldON Resources Ltd. (GLD) opened trading at C$0.11.


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