- P2 Gold (PGLD) has upsized the size of its non-brokered private placement of non-flow-through units
- The offering consisted of a total of 5,771,689 units for gross proceeds of $1,558,356
- The proceeds will be used to fund exploration and engineering expenditures and for general corporate purposes
- P2 is a mineral exploration and development company
- P2 Gold Inc. (PGLD) opened trading at C$0.24
P2 Gold (PGLD) has upsized the size of its previously-announced private placement of non-flow-through units.
The offering consisted of a total of 5,771,689 units for gross proceeds of $1,558,356.
The company also reports that it has closed the remaining tranche of the offering consisting of 3,058,760 units for gross proceeds of approximately $825,865.
Each unit consists of one common share and and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $0.40 per common share for a period of two years from the date of issue.
Warrants are subject to an acceleration clause.
The proceeds will be used to fund exploration and engineering expenditures and for general corporate purposes.
The company paid finder’s fees of an aggregate of $67,580 and issued 250,298 warrants to arm’s lengtth finders.
All securities issued will be subject to a statutory four-month hold period.
P2 is a mineral exploration and development company focused on advancing precious metals and copper discoveries and acquisitions in the western United States and British Columbia.
P2 Gold Inc. (PGLD) opened trading at C$0.24.