Japan Gold Corp - Chairman & CEO, John Proust
Chairman & CEO, John Proust
Source: Financial Post
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  • Japan Gold (JG) has closed an upsized C$17 million non-brokered private placement
  • The company issued 48,571,429 shares at a price of C$0.35 per share
  • The net proceeds will be used to fund exploration at the company’s wholly-owned Ikutahara and Ohra-Takamine projects
  • The company paid a total of $1,010,688 in cash and issued a total of 2,887,679 compensation warrants
  • Japan Gold is a Canadian mineral exploration company focused solely on gold exploration in Japan
  • Japan Gold Corp. (JG) opened trading at $0.345 per share

Japan Gold (JG) has closed an upsized C$17 million non-brokered private placement.

The company issued 48,571,429 shares at a price of C$0.35 per share.

The net proceeds will be used to fund drill programs, drill targeting and advanced exploration at the company’s two wholly-owned projects, Ikutahara and Ohra-Takamine.

Japan Gold would like to recognize CIBC, Hannam & Partners and Red Cloud Securities for their support in completing the financing.

John Proust, the Company’s Chairman and CEO commented,

“With the closing of this financing, Japan Gold is well-capitalized to initiate new drill programs on its wholly owned Ikutahara Project in Hokkaido and Ohra-Takamine Project in southern Kyushu. I would like to thank investors for their overwhelming support. The high demand for this private placement is a testament to the quality of the assets and partnerships we have assembled, and the concurrent advancement of the country wide evaluation of 29 projects under the Barrick Alliance. We look forward to what we believe will be an exciting year ahead for our Company.”

The company paid a total of $1,010,688 in cash and issued a total of 2,887,679 compensation warrants in connection with the offering. The compensation warrants are exercisable at C$0.35 per common share for a period of 12 months from the date of closing.

The shares and compensation warrants will be subject to a hold period of four months, expiring on November 9, 2021.

Japan Gold is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu.

Japan Gold Corp. (JG) opened trading at $0.345 per share.

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