- Pasofino Gold (VEIN) has closed its non-brokered private placement for gross proceeds of US$5.2 million
- Approximately US$4.5 million of the offering has been subscribed for by ESAN, a leading Turkish mining company
- ESAN has been granted the right to nominate one director to Pasofino’s board
- Pasofino will use the proceeds to advance its earn-in into the Dugbe Gold Project
- Pasofino Gold is a Canadian-based gold exploration company engaged in the acquisition, exploration, and development of mineral properties
- Pasofino Gold is a Canadian-based gold exploration company
- Shares in Pasofino Gold (VEIN) are up 4.69 per cent on the day, trading at $0.67 per share at 10:45 am EST
Pasofino Gold (VEIN) has closed its previously announced non-brokered private placement for gross proceeds of US$5.2 million.
Approximately US$4.5 million of the offering has been subscribed for by ESAN, a leading Turkish mining company. ESAN has been granted the right to nominate one director to Pasofino’s board.
Pasofino will use the proceeds from the offering to advance its earn-in into the Dugbe Gold Project and for working capital.
All shares issued are subject to a four-month and one-day hold period.
Ian Stalker, CEO of Pasofino commented on the financing.
“We are pleased to close this financing with receipt of the remaining strategic investment from ESAN. This further confirms our view that the Dugbe project is high quality, with the potential to become a major gold producer within the industry. We look forward to the completion of the feasibility study which will highlight the significant upside that exists at Dugbe given the close proximity to port, the large land package, the high-grade zones, and continued positive relationships with stakeholders in Liberia.”
Pasofino Gold is a Canadian-based gold exploration company engaged in the acquisition, exploration, and development of mineral properties.
Its Dugbe Project is located in southern Liberia within the southwestmost part of the Birimian Supergroup, which is host to the majority of West African gold deposits.
Shares in Pasofino Gold (VEIN) are up 4.69 per cent on the day, trading at $0.67 per share at 10:45 am EST.