- Stone Gold (STG) has closed a non-brokered private placement for aggregate gross proceeds of $315,000
- The company issued 1,575,000 units for $0.20 per unit. Each unit includes one common share and one-half of one share purchase warrant
- The proceeds will be primarily used for exploration activities at the company’s properties
- Stone Gold is engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals
- Stone Gold Inc. (STG) opened trading at C$0.18
Stone Gold (STG) has closed its previously announced non-brokered private placement for aggregate gross proceeds of $315,000.
The company issued 1,575,000 units for $0.20 per unit. Each unit includes one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional share for a period of twenty-four months following the closing of the offering.
Stone Gold President and CEO John Timmons commented on the capital raise.
“We are pleased to have the continued support of seasoned mining investors such as Northfield Capital and Patrick Sheridan Jr. as we continue to advance the Copper Road Project.”
The proceeds will be primarily used for exploration activities at the company’s properties, as well as for general working capital purposes.
The placement is subject to receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. The securities will be subject to a statutory four-month hold period.
The company will pay a cash commission to eligible finder’s in accordance with the policies of the TSXV.
Stone Gold is engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals.
Stone Gold Inc. (STG) opened trading at C$0.18.