Total
0
Shares
- Investor, Eric Sprott - The Market Herald Canada
Investor, Eric Sprott
Source: Financial Post
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • C2C Gold (CTOC) has announced a strategic investment by Eric Sprott as part of a C$2.63 million private placement
  • The company sold 16,450,000 units at $0.16 per unit
  • Sprott agreed to subscribe for a total of 11,000,000 units
  • Upon completion of the financing, Sprott will hold 14.47 per cent of the company on a non-diluted basis
  • The company will use the proceeds to fund exploration expenditures and for general working capital
  • C2C Gold is a Canadian mineral exploration company focused on projects in Newfoundland
  • C2C Gold (CTOC) is up by 5.26 per cent and is currently trading at $0.20 per share

C2C Gold (CTOC) has announced a strategic investment by Eric Sprott as part of a C$2.63 million private placement.

The company sold 16,450,000 units at $0.16 per unit for gross proceeds of $2,632,000.

Each unit will consist of one common share and one-half of one common share purchase warrant.

Each full warrant is exercisable at $0.20 per share for a period of two years.

Eric Sprott agreed to subscribe for a total of 11,000,000 units. Upon completion of the financing, Sprott will hold 14.47 per cent of the company on a non-diluted basis and 19.99 per cent on a partially-diluted basis.

The company will use the proceeds to fund exploration expenditures and for general working capital.

C2C Gold's project areas cover more than 1,150 km² along and between the Red Indian Line and the Valentine Lake shear zone in Newfoundland's Central Gold Belt.

The company is focusing on the correlation between anomalous gold-in-till samples and underlying structural features shown on historical geophysical surveys.

A comprehensive program of deeper soil sampling over the most promising areas will target potential buried gold mineralization.

Janet Lee-Sheriff, C2C's Executive Chairman, stated,

"On behalf of the C2C Gold Board and management, I am pleased to welcome Mr. Eric Sprott as a shareholder of C2C Gold Corp. Mr. Sprott’s participation in this financing is a strong statement to the potential of the property holdings and the jurisdiction as a whole.

This funding will allow C2C to proceed with a comprehensive exploration season in 2021 commencing with a soil sampling program that will prioritize drill targets in the Central Newfoundland Gold Belt."

C2C Gold is a Canadian mineral exploration company focused on projects in Newfoundland.

C2C Gold (CTOC) is up by 5.26 per cent and is currently trading at $0.20 per share as of 12:27 pm ET.

More From The Market Herald
Blue Star Gold (TSXV:BAU)  updates its drill program at the Ulu and Hood River projects and the exploration campaign on the Roma Project

" Blue Star Gold (TSXV:BAU) updates its drill program at the Ulu and Hood River projects

Blue Star Gold (BAU) has provided an update on its 2021 drill program at the Ulu and Hood River Projects.
Adyton Resources (TSXV:ADY) begins trading on the OTCQB market

" Adyton Resources (TSXV:ADY) confirms Fergusson Island exploration potential

Adyton Resources (ADY) has confirmed the exploration potential of its Fergusson Island projects.
Blue Thunder Mining (TSXV:BLUE) prepares for drilling in Québec

" Independence Gold (TSXV:IGO) updates British Columbia project exploration

Independence Gold (IGO) is updating exploration progress at its 3Ts Project in British Columbia.
Revival Gold - President and CEO, Hugh Agro - The Market Herald Canada

" Revival Gold (TSXV:RVG) completes initial stage of 2021 heap leach test work

Revival Gold (RVG) has completed the initial stage of the company’s 2021 heap leach metallurgical test work program for the Beartrack-Arnett Gold Project.