- Labrador Gold Corp. (LAB) has raised $3,885,285.90 from the recent exercise of share purchase warrants
- The exercise of warrants has increased the company’s cash position to $26.5 million
- Management and directors were among those who exercised their warrants
- Labrador Gold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada
- Labrador Gold Corp. opened the day’s trading at $0.40 per share
Labrador Gold Corp. (LAB) has raised $3,885,285.90 from the exercise of share purchase warrants.
Management and directors of the company were among those who exercised their warrants, and exercise which has increased the company’s cash position to $26.5 million.
“The funds brought in by the exercise of the warrants adds to an already robust treasury and allows us to continue our ongoing exploration of the 12km strike length of the Appleton Fault Zone at our 100-per-cent-owned Kingsway Project,” stated Roger Moss, President and CEO.
“The hard work of the LabGold team over the past two years has resulted in the generation and successful drilling of four out of four gold targets, which demonstrates both the ability of our people on the ground as well as the prospectivity of the Kingsway project, and the Appleton Fault Zone in particular,” he added.
Giving exploration update, the company noted that drilling continues at Kingsway with four drill rigs. Two rigs are working at Big Vein, one testing the down plunge extension of the high-grade HTC Zone below 250m, and the other testing the southwest extension of the Big Vein Zone.
The Kingsway property is located in the Gander area of Newfoundland.
A third rig continues to test the Golden Glove target while the fourth rig tests the CSAMT target approximately eight kilometres northeast of Big Vein.
Labrador Gold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold Corp. opened the day’s trading at $0.40 per share.