- Snowline Gold Corp. (SGD) has launched a non-brokered private placement of flow-through shares and units for gross proceeds of up to $23.23 million
- The company will issue up to 7,000,000 flow-through common shares and up to 12,342,293 units
- The gross proceeds from the offering will be used to advance exploration of the company’s Yukon Territory mineral properties and for working capital purposes
- Snowline Gold Corp. (SGD) is down 1.70 per cent on the day, trading at C$1.73 per share at 1 pm ET
Snowline Gold Corp. (SGD) has launched a non-brokered private placement of flow-through shares and units for gross proceeds of up to $23.23 million.
The company will issue up to 7,000,000 flow-through common shares at $1.40 per flow-through share for gross proceeds of up to C$9,800,000 and up to 12,342,293 units at $1.25 per unit for gross proceeds of up to C$15,427,866.25.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant may be exercised for one common share at a price of $2.50 for a period of two years.
The gross proceeds from the offering will be used to advance exploration of the company’s Yukon Territory mineral properties and for working capital purposes.
The offering is expected to close in two tranches, with the second tranche closing on or about August 2, 2022.
All securities issued will be subject to a statutory four-month hold period.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.
Snowline Gold Corp. (SGD) is down 1.70 per cent on the day, trading at C$1.73 per share at 1 pm ET.