- Independence Gold Corp. (IGO) has upsized its private placement equity financing
- The company will issue up to a maximum of 26,666,666 shares flow-through shares and units at a price of $0.06 for gross proceeds of up to $1.6 million
- The proceeds will be used to fund a winter exploration program at the company’s 3Ts Property
- Independence Gold Corp is a mineral exploration company
- Independence Gold Corp. (IGO) opened trading at $0.08 per share
Independence Gold Corp. (IGO) has upsized its previously-announced private placement equity financing for gross proceeds of up to $1.6 million.
The company will issue up to a maximum of 26,666,666 flow-through shares and units. Both the FT shares and the units will be offered at a price of $0.06. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at an exercise price of $0.12 per common share for a period of 24 months.
The proceeds will be used to fund a winter exploration program at the company’s 3Ts Property in central British Columbia commencing in February 2023. A portion of the proceeds from the units is also intended to be used for general and administrative purposes.
Closing of the offering is subject to receipt of applicable regulatory approvals, including the approval of the TSX Venture Exchange.
The securities issued will be subject to a statutory four-month hold period.
Independence Gold Corp is a mineral exploration company.
Independence Gold Corp. opened trading at $0.08 per share.