- Comstock Metals (CSL) has closed its non-brokered private placement for gross proceeds of $388,900
- The company issued 2,225,000 units and 1,715,000 FT units
- The proceeds from the offering of units will be used to fund the exploration of the Preview SW gold deposit
- The Preview SW deposit hosts indicated mineral resources containing 158,300 ounces of gold
- Comstock Metals Ltd is engaged in the acquisition and exploration of mineral properties in Canada.
- Comstock Metals Ltd. (CSL) opened trading at C$0.075 per share
Comstock Metals (CSL) has closed its non-brokered private placement for gross proceeds of $388,900.
The company issued 2,225,000 units and 1,715,000 FT units. Each unit was priced at $0.09. Each FT unit was priced at $0.11
The expiry date of the warrants is subject to an acceleration provision.
The company will use the gross proceeds of the FT units for eligible exploration expenditures.
The proceeds from the offering of units will be used to fund the exploration of the Preview SW gold deposit and for general working capital.
As part of the placement, certain insiders of the company subscribed to purchase units.
This includes Steven Goldman, President and CEO of Comstock Metals, along with his wife, who subscribed for an aggregate of 1,000,000 units.
Comstock paid finder’s fees totalling $13,398 and issued 125,300 broker warrants.
Comstock Metals is advancing the Preview SW Gold Project, a resource-stage gold project in the La Ronge district of Saskatchewan. The Preview SW deposit hosts indicated mineral resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and inferred mineral resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au).
Comstock Metals Ltd. (CSL) opened trading at C$0.075 per share.
