- Red Lake Gold (RGLD) has closed the first tranche of its non-brokered private placement for gross proceeds of $330,500.40
- The company issued 1,101,668 common share units at a price of $0.30 per unit
- Red Lake Gold intends to use the net proceeds of the financing to advance its exploration projects and for working capital purposes
- Red Lake Gold is focused on gold exploration through its 12,300 ha district-scale Whirlwind Jack Gold Project near Red Lake, Ontario
- Red Lake Gold Inc. (RGLD) is down 3.28 per cent on the day, trading at C$0.295 per share
Red Lake Gold (RGLD) has closed the first tranche of its financing for gross proceeds of $330,500.40.
The company issued 1,101,668 common share units at a price of $0.30 per unit. This tranche relates to a majority of units offered under the financing and was closed on a tranche basis to accommodate upcoming holiday schedules.
Each unit issued includes one common share and one-half of a common share purchase warrant. Each whole warrant is exercisable at $0.45 per common share for a period of twelve months from the date of closing.
Red Lake Gold intends to use the net proceeds of the financing to advance its exploration projects and for working capital purposes.
Common shares issued are subject to a four-month hold period in accordance with applicable Canadian securities laws.
Red Lake Gold is focused on gold exploration through its 12,300 ha district-scale Whirlwind Jack Gold Project situated near Red Lake, Ontario.
Red Lake Gold Inc. (RGLD) is down 3.28 per cent on the day, trading at C$0.295 per share.