- Mayfair Gold Corp. (MFG) has closed the final tranche of its previously-announced non-brokered private placement financing for gross proceeds of $8,430,000
- Under the second tranche, the company raised proceeds of $3,450,00
- Mayfair Gold intends to use the funds to further its successful exploration program at the Fenn-Gib gold project in the Timmins region of Ontario, etc
- Mayfair Gold is a mineral exploration company focused on advancing its Fenn-Gib gold project in the Timmins region of Northern Ontario
- Mayfair Gold Corp. was up 4.93 per cent, trading at $1.49 at 10:16 AM ET
Mayfair Gold Corp. (MFG) has closed its previously announced non-brokered private placement financing for total gross proceeds of $8,430,000.
Under the first tranche of the offering, completed on December 19, 2022, the company issued 4,330,000 common shares for proceeds of $4,980,000,
Under the second tranche, the company issued 3,000,000 common shares for gross proceeds of $3,450,00.
All common shares issued under the offering are subject to a statutory four-month hold period.
Proceeds raised will be used to further its successful exploration program at the Fenn-Gib gold project in the Timmins region of Ontario for metallurgical and engineering studies and general working capital.
“We are pleased with the strong support for this financing,” stated Mayfair President and CEO Patrick Evans.
“Mayfair is now well placed to advance the Fenn-Gib gold project through final resource delineation, metallurgical and engineering studies,” he added.
Mayfair Gold is a Canadian mineral exploration company focused on advancing the 100-per-cent-controlled Fenn-Gib gold project in the Timmins region of Northern Ontario.
Mayfair Gold Corp. was up 4.93 per cent, trading at $1.49 at 10:16 AM ET.