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Be the first with the news that moves the market- Augusta Gold Corp. (G) closed the bought deal of units for gross proceeds of $11.5 million, including $1.5 million from the exercise of the over-allotment option
- A total of 6.72 million Augusta Gold units were sold at a price of $1.71 per unit
- Underwriters received a cash commission equal to 5.00 per cent of the total proceeds of the offering ad 336,257 compensation warrants
- The company intends to use the net proceeds to advance the Bullfrog Project, for working capital, and general corporate purposes
- Augusta Gold Corp. (G) is up 2.03 per cent, trading at $1.51 per share as of 12:39 p.m. EST
Augusta Gold Corp. (G) has closed its previously announced bought deal offering of its units totalling $11.5 million.
The over-allotment option was fully exercised, providing $1.5 million toward the total proceeds.
A total of 6.72 million Augusta Gold units were sold at a price of $1.71 per unit. Each unit was made up of one common share and half of one common stock purchase warrant in the company’s capital. Each warrant entitles the holder to acquire one common share at a price of $2.30 until January 20th, 2026.
The involved underwriters received a cash commission equal to 5.00 per cent of the total proceeds of the offering ad 336,257 compensation warrants valid until January 20th, 2024.
The company intends to use the net proceeds to advance the Bullfrog Project for working capital and general corporate purposes.
Augusta Gold is an exploration and development company focused on building the Reward and Bullfrog gold projects and pursuing merger and acquisition opportunities. The Reward and Bullfrog gold projects are roughly 120 miles northwest of Las Vegas, Nevada and just outside of Beatty, Nevada.
Augusta Gold Corp. (G) is up 2.03 per cent and is trading at $1.51 per share as of 12:39 p.m. EST.
