- Precipitate Gold Corp. (PRG) has increased its private placement of flow-through and non-flow-through units to $1.8 million
- The proceeds from the offering will be used for exploration and development of its mineral property interests in Newfoundland, and for general working capital purposes
- The offering is being made available to all existing shareholders of Precipitate Gold
- It is is subject to a minimum raise of $350,000 and a maximum raise of $2 million
- Precipitate Gold Corp. (PRG) is unchanged trading at $0.09 per share as of 12:22 p.m. EST
Precipitate Gold (PRG) has increased its private placement of flow-through and non-flow-through units to $1.8 million.
The offering will occur in two parts.
First, with the flow-through units issued at $0.10 per unit.
Each unit consists of one flow-through common share and one-half of a warrant, each whole warrant exercisable at $0.15 per share.
This will be followed by the non-flow-through units issued at $0.09 per unit.
Each unit consists of one non-flow-through common share and one-half of a warrant, each whole warrant exercisable at $0.15 per share.
The proceeds from the offering will be used for exploration and development of its mineral property interests in Newfoundland, and for general working capital purposes.
Red Cloud Securities Inc. is acting as a finder in connection with the flow-through component of the offering.
Precipitate Gold may pay additional finder’s fees on a portion of the offering.
The offering is being made available to all existing shareholders of Precipitate Gold.
The offering is subject to a minimum capital raise of $350,000 and a maximum of $2 million.
If aggregate subscriptions for securities exceed the maximum offering, then securities will be offered on a pro-rata basis as to the amount of each subscription.
Precipitate Gold has entered into an earn-in agreement with Barrick Gold Corporation.
Barrick can earn a 70 per cent interest in Precipitate Gold’s Pueblo Grande Project by incurring US$10 million within six years and producing a qualifying pre-feasibility study.
Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand its portfolio.
Precipitate Gold Corp. (PRG) is unchanged trading at $0.085 per share as of 12:22 p.m. EST.