- Xali Gold Corp. (XGC) has completed the second tranche of its non-brokered private placement
- It has issued 3,383,333 units at a price of $0.06 per unit for aggregate gross proceeds of $203,000
- Xali Gold has raised total aggregate proceeds of $422,900 and issued a total of 7,048,333 units from the closings of the first and second tranches of the private placement
- The net proceeds of the private placement will be used to further the permitting and targeting for drilling programs on Xali Gold gold-silver projects, working capital and general corporate purposes
- Xali Gold Corp. (XGC) is unchanged trading at $0.07 per share as of 1:47 p.m. EST
Xali Gold Corp. (XGC) has completed the second tranche of its previously announced non-brokered private placement.
It has issued 3,383,333 units at a price of $0.06 per unit for aggregate gross proceeds of $203,000.
Xali Gold has raised total aggregate proceeds of $422,900 and issued a total of 7,048,333 units from the closings of the first and second tranches of the private placement.
Each unit consists of one common share in the capital of the company and one-half share purchase warrant.
Each warrant entitles the holder to purchase one additional share at a price of $0.12 per warrant share for a period of two years from the closing date, subject to an acceleration provision.
All securities issued in connection to the private placement are subject to a statutory hold period expiring four months and one day from the date of issuance.
The net proceeds of the private placement will be used to further the permitting and targeting for drilling programs on Xali Gold gold-silver projects, working capital and general corporate purposes.
Xali Gold has a growth strategy to acquire gold and silver projects with near-surface exploration potential, near-term production potential and previous mining histories in Mexico and in Newfoundland.
El Oro continues to be its flagship asset because it is a district-scale gold project encompassing a well-known prolific high-grade gold-silver epithermal vein system in Mexico.
The project reported approximately 6.4 million ounces of gold and 74 million ounces of silver to have been produced from two of these veins.
Xali Gold Corp. (XGC) is unchanged trading at $0.07 per share as of 1:47 p.m. EST.