- St. James Gold (LORD) has closed its brokered private placement offering of 1,241,251 units and 355,465 flow-through units
- Units were priced at $3.60 for aggregate gross proceeds of $5,003,427
- The company paid the agent a cash fee of $300,206 and issued 95,803 broker warrants
- St. James Gold has satisfied the substantive filing requirements in respect to an agreement with Florin Resources Inc. to acquire an interest in the Florin Gold Project
- St. James Gold Corp is focused on the acquisition, exploration, and development of mineral resource properties located in Canada
- St. James Gold Corp. (LORD) is up 4.62 per cent, trading at C$3.40 per share at 3:45 pm ET
St. James Gold (LORD) has closed its brokered private placement offering of 1,241,251 units and 355,465 flow-through units.
Units were priced at $3.60 for aggregate gross proceeds of $5,003,427. Each unit consists of one common share and one share purchase warrant.
Each warrant entitles the holder to purchase one additional share at a price of $3.90 for a period of three years from the closing date of the offering.
As consideration for its services, the company paid the agent a cash fee of $300,206 and issued 95,803 broker warrants. Each broker warrant entitles the holder to purchase one unit at a price of $3.00 for a period of three years from the closing date.
The company also issued 31,934 units to the agent in satisfaction of a corporate finance fee.
St. James Gold intends to use the net proceeds to satisfy the initial payment on the Florin Gold Project acquisition, conduct drilling on the Florin Gold Project and the Company’s Newfoundland properties.
All securities issued and issuable in connection with the offering will be subject to a four-month hold period ending October 30, 2021.
The offering remains subject to final approval from the TSXV.
St. James Gold is also pleased to announce that it has satisfied the substantive filing requirements of the TSXV in respect to the option and joint venture agreement entered into with Florin Resources Inc. and expects to receive final acceptance from the TSXV shortly.
Pursuant to the option agreement the company can acquire an interest in the Florin Gold Project.
The company also announced an agreement to acquire up to an 85 per cent interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historic Tintina Gold Belt in the Yukon Territory.
St. James Gold Corp. is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects. The company currently holds both an option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland adjacent to New Found Gold Corp.’s Queensway North project, and an option to acquire a 100% interest in 28 claims covering 1,730 acres in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property.
St. James Gold Corp. (LORD) is up 4.62 per cent, trading at C$3.40 per share at 3:45 pm ET.
