- Nighthawk Gold (TSX:NHK), a Canadian microcap gold stock, has closed a bought-deal private placement for C$11,318,080
- The company will allocate proceeds to flow-through mining expenditures and ongoing project development
- Nighthawk Gold is a Canadian exploration and development company that owns more than 947 square kilometres of district-scale property within 200 km north of Yellowknife, Northwest Territories
- Nighthawk Gold stock (TSX:NHK) is down by 2.27 per cent trading at $0.43 per share
Nighthawk Gold (TSX:NHK), a Canadian microcap gold stock, has closed a bought-deal private placement for C$11,318,080.
The company issued 11,250,000 common shares priced at $0.40 per share, as well as 14,821,913 common shares on a flow-through basis at $0.46, including a partial exercise of the underwriter’s option.
Proceeds from the non-flow-through shares will fund ongoing project development expenditures, as well as working capital and general corporate purposes.
Aggregate gross proceeds from flow-through shares will be used for “Canadian exploration expenses” that qualify as “flow-through mining expenditures” within the meaning of the Income Tax Act (Canada). The company will incur these expenditures on or before Dec. 31, 2024, and renounce them to flow-through shareholders on or before Dec. 31, 2023.
Nighthawk’s Colomac Gold Project features indicated mineral resources of 3,388,000 contained gold ounces, inferred mineral resources of 1,691,000 contained gold ounces, and an after-tax payback period of 1.5 years at US$2,000/ounce gold.
National Bank Financial led the offering with participation from SCP Resource Finance LP, Leede Jones Gable, PI Financial and Haywood Securities.
All securities issued are subject to a four-month-plus-one-day hold period under applicable Canadian securities laws.
Nighthawk Gold is a Canadian-based gold exploration and development company that owns more than 947 square kilometres of district-scale property within 200 km north of Yellowknife, Northwest Territories. Nighthawk’s management team – which boasts a track record of successfully advancing projects and operating mines – is working to rapidly advance company assets towards a development decision.
The Canadian gold stock (TSX:NHK) is down by 2.27 per cent, trading at $0.43 per share as of 9:36 am ET.
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