- Val-d’Or Mining (VZZ) has now completed its previously announced non-brokered private placement offering
- The Quebec-based mining company issued 8,727,954 units under at a price of $0.16
- The offering raised gross proceeds of $1,396,472.64
- Net proceeds raised will be used for general corporate purposes
- Val-d’Or Mining Corporation (VZZ) is down 4.00 percent, trading at $0.12 at 11:50 a.m. ET
Val-d’Or Mining (VZZ) has now completed its non-brokered private placement offering.
The Quebec-based mining company issued 8,727,954 units at a price of $0.16 for gross proceeds of $1,396,472.64.
Units were made up of one common share in the capital of the company and one-half of one non-transferable common share purchase warrant.
The company is paying an administration fee of $8,000 to one of the subscribers.
Eight insiders participated in the offering for aggregate cash consideration to the company of $602,016.96, which constitutes a Related Party Transaction.
Net proceeds raised from the offering will be used for general corporate purposes.
All securities issued under the offering are subject to a hold period until July 19, 2022.
The junior natural resource exploration company is continuing the process of acquiring and exploring its portfolio of mineral property assets, most of which are situated in the Abitibi Greenstone Belt of Ontario and Québec.
The company regularly evaluates new opportunities for staking and acquisitions.
Outside of its principal regional focus in the Abitibi Greenstone Belt, the company holds several other properties in Northern Québec covering different geological environments and commodities.
Val-d’Or Mining Corporation (VZZ) is down 4.00 percent, trading at $0.12 at 11:50 a.m. ET.
