- MacDonald Mines Exploration Ltd. (BMK) has closed its non-brokered private placement offering for proceeds of $175,500
- MacDonald Mines is a Canadian gold and base metal exploration company focused on its SPJ Project in Northern Ontario
- It issued 926,923 flow-through shares for $0.13 each and 550,000 non-flow-through units priced at $0.10 per unit
- Proceeds will go toward developing and exploring the SPJ project
- The company was also approved to receive $200,000 for the Ontario Junior Exploration Program
- MacDonald Mines Exploration Ltd. (BMK) is down 7.14 per cent, trading at $0.06 per share as of 12:25 p.m. EST
MacDonald Mines Exploration (BMK) has closed its non-brokered private placement offering for proceeds of $175,500.
MacDonald Mines is a Canadian gold and base metal exploration company focused on exploring its wholly-owned SPJ Project in Northern Ontario.
The company issued 926,923 flow-through shares for $0.13 each and 550,000 non-flow-through units priced at $0.10 per unit. Each unit is comprised of one class A common share and half of one class A common share purchase warrant. A full warrant can be used to buy one class A common share at a price of $0.15 per share for two years.
MacDonald Mines insiders participated by acquiring a total of 200,000 flow-through shares representing 14 per cent of the total proceeds. The company paid finders fees of $9,415 to said finders in connection with applicable flow-through shares and units.
Proceeds from the offering will be used to develop the SPJ Project and for general working purposes. The proceeds from the portion of the flow-through shares will be used for exploration purposes.
MacDonald Mines was also approved for $200,000 in funding for the Ontario Junior Exploration Program. Back in March, the Government of Ontario launched a critical minerals strategy to enhance Ontario’s mineral potential and to support a made-in-Ontario electric vehicle supply chain.
MacDonald Mines Exploration Ltd. (BMK) is down 7.14 per cent, trading at $0.06 per share as of 12:25 p.m. EST.