Source: Ashley Gold.
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  • Ashley Gold Corp. (ASHL) has closed the second tranche of its non-brokered private placement for gross proceeds of $84,000
  • Under both tranches, the company has raised a total of $163,200
  • The gross proceeds from the offering will be used for exploration work on the Santa Maria Property in Ontario
  • Ashley Gold Corp. is an early-stage natural resource company engaged in the acquisition, exploration, and development of mineral properties
  • Ashley Gold Corp. (ASHL) is unchanged on the day, trading at C$0.105 per share at 11:30 am ET

Ashley Gold Corp. (ASHL) has closed the second tranche of its non-brokered private placement for gross proceeds of $84,000.

This is in addition to proceeds of $79,200 raised under the first tranche for a total of $163,200.

The second tranche included 450,000 flow-through units and 300,000 non-flow-through units. The FT units, priced at $0.12, consisted of one flow-through common share and one non-flow-through common share purchase warrant. Each warrant is exercisable for one non-flow-through common share for a period of 24 months. The non-FT units, priced at $0.10, consisted of one common share and one common share purchase warrant. Each purchase warrant is exercisable into one common share for a period of 24 months.

The company paid a total of $6,720 in finder’s fees and issued 60,000 finder warrants.

All securities issued are subject to a statutory four-month hold period.

The gross proceeds from the FT shares will be used to incur eligible expenses at the company’s Santa Maria Property southeast of Dryden, Ontario. Proceeds raised from the non-FT shares will be used for exploration work on the Santa Maria Property and for general working capital.

Ashley Gold holds an option to earn 100 per cent interest in the Ashley Mine Project, subject to a 2 per cent royalty. Ashley has also acquired 100% of the Santa Maria Project, subject to a 1.75 per cent royalty. Ashley is actively searching for additional high-potential gold properties to add to its portfolio.

Ashley Gold Corp. is an early-stage natural resource company engaged in the acquisition, exploration, and development of mineral properties.

Ashley Gold Corp. (ASHL) is unchanged on the day, trading at C$0.105 per share at 11:30 am ET.


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