- St. James Gold (LORD) has closed the second tranche of its brokered private placement
- The second tranche consisted of 424,391 units and 108,801 flow-through units for aggregate gross proceeds of approximately $1,786,511
- The total gross proceeds of the offering were approximately $4,015,687
- Net proceeds will be used to fund drilling on the Florin Gold Project, exploration activities on the company’s Newfoundland properties
- St. James Gold is engaged in acquiring, exploring, and developing mineral resource properties in Canada
- St. James Gold Corp. (LORD) is down 3.85 per cent, trading at C$3.75 per share at 4 pm ET
St. James Gold (LORD) has closed the second tranche of its previously announced brokered private placement.
The second tranche consisted of 424,391 units and 108,801 flow-through units for aggregate gross proceeds of approximately $1,786,511.
The total gross proceeds of the offering were approximately $4,015,687.
The offering was led by Canaccord Genuity Corp. as the sole lead agent.
As consideration for its services in connection with the closing of the second tranche, the company paid Canaccord a cash fee of $151,774 and issued 43,271 broker warrants. The company also issued 22,393 units in satisfaction of the corporate finance fee.
Net proceeds will be used to fund drilling on the Florin Gold Project, exploration activities on the company’s Newfoundland properties, and general corporate purposes. The gross proceeds raised from the sale of FT units will be used to fund mining expenditures on the company’s options on the Florin Gold Project and Newfoundland properties.
All securities issued will be subject to a four-month hold period.
St. James Gold is engaged in acquiring, exploring, and developing mineral resource properties in Canada.
St. James Gold Corp. (LORD) is down 3.85 per cent, trading at C$3.75 per share at 4 pm ET.
