- GoldON Resources (GLD) has increased its non-brokered private placement financing for gross proceeds of $529,000
- The offering will now consist of 3,041,668 flow-through units and 1,640,000 non-flow-through units
- GoldON Resources Ltd. is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario
- GoldON Resources Ltd. was down 4.167 per cent, trading at $0.115 at 10:28 AM ET
GoldON Resources (GLD) has increased its previously announced non-brokered private placement financing for gross proceeds of $529,000.
The offering will now consist of 3,041,668 flow-through units and 1,640,000 non-flow-through units.
The FT units are priced at $0.12 and consist of one flow-through share and one non-transferable share purchase warrant that will entitle the holder to purchase one common share of the company at $0.20 for twelve months from the closing date of the offering.
The NFT units are priced at $0.10 and consist of one common share and one non-transferable share purchase warrant that will entitle the holder to purchase one additional common share of the Company at $0.20 per share for twenty-four months from the closing date of the offering.
The company has agreed to pay a finder’s fee of up to 6 per cent cash and 6 per cent finders’ warrants on a portion of the offering proceeds.
Finders’ warrants associated with the FT units will entitle the holder to purchase one common share of the company at $0.20 for twelve months from the closing date.
The company plans to use the proceeds of the offering to fund its initial drilling program at the 100per-cent-owned McDonough Gold Property and for general working capital purposes.
Completion of this offering is subject to TSX Venture Exchange acceptance.
GoldON Resources Ltd. is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario.
GoldON Resources Ltd. was down 4.167 per cent, trading at $0.115 at 10:28 AM ET.
