Source: Stone Gold Inc.
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  • Stone Gold (STG) has completed its C$500,000 non-brokered private placement
  • The company sold 5,000,000 units priced at $0.10 per unit
  • It will use the proceeds for exploration activities on its properties in addition to general corporate purposes
  • Stone Gold is engaged in the acquisition, exploration and evaluation of precious and base metal mining properties in Ontario
  • Stone Gold (STG) closed up by 12 per cent trading at $0.14 per share

Stone Gold (STG) has completed its C$500,000 non-brokered private placement.

It sold 5,000,000 units priced at $0.10 per unit.

Each unit consists of one common share and one common share purchase warrant.

Each warrant entitles the holder to acquire one common share priced at $0.15 for 24 months following the closing of the offering, subject to acceleration with 30 days’ notice.

The company will use the proceeds for exploration activities on its properties as well as for general corporate purposes.

Its Mount Jamie North Property has historic grab samples of 1.105 g/t gold, 0.406 g/t gold, 0.845 g/t gold, 0.975 g/t gold and 0.255 g/t gold.

Its Glenrock Project has yielded historic trenching results of 6.33 g/t gold over 4 m and 3.96 g/t gold over 8 m, as well as diamond drilling results of 4.2 m at 3.4 g/t gold and 13 m at 1.27 g/t gold.

Stone Gold is engaged in the acquisition, exploration and evaluation of precious and base metal mining properties in Ontario.

Stone Gold (STG) closed up by 12 per cent trading at $0.14 per share.

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