- Gossan Resources (GSS) has announced a non-brokered private placement for aggregate gross proceeds of $800,000
- The company will issue up to 5,000,000 units at a price of $0.16 per unit
- The proceeds will be used to advance the company’s Gander Property
- Gossan Resources Limited holds mineral exploration and development properties located in Manitoba, Northwestern Ontario and Newfoundland
- Gossan Resources Limited (GSS) opened trading at C$0.16 per share
Gossan Resources (GSS) has announced a non-brokered private placement for aggregate gross proceeds of $800,000.
The company will issue up to 5,000,000 units at a price of $0.16 per unit. Each unit will include 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 $0.24 for a period of two years.
Samuel Pelaez, CEO of Gossan, commented on the capital raise.
“I would like to welcome two supportive institutions that are looking to become part of the Gossan family. Currently, Gossan is planning a bore-hole EM survey for its Glitter Property to better define targets for the next drill program. Meanwhile, the funds raised will allow Gossan to advance exploration at its Gander Property this spring and summer by conducting an airborne mag survey and a ground sampling program. These programs will complement the previously completed LIDAR survey, and will assist in defining drill targets for the property.”
All securities issued will be subject to a four-month hold period.
The proceeds will be used for corporate and general working capital purposes and to advance the company’s Gander Property.
The closing of the offering is subject to the approval of the TSX Venture Exchange.
The company may pay finder’s fees to eligible persons in accordance with applicable securities laws and regulatory policies.
Gossan Resources Limited holds mineral exploration and development properties located in Manitoba, Northwestern Ontario and Newfoundland. The company is focused on advancing the exploration and drilling of its Glitter Property, located in Northwestern Ontario.
Gossan Resources Limited (GSS) opened trading at C$0.16 per share.
