2023-05-10 14:24:18 ET
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Gold79 Mines ( TSXV: AUU:CA ) ( OTCQB:AUSVF ) on Wednesday announced a non-brokered private placement to raise up to $2 million.
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The offering comprises of 50 million units at $0.04 per unit.
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Each unit consists of one common share and one whole common share purchase warrant.
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Each warrant entitles the holder to purchase one common share at a price of $0.06 per share for a period of 24 months following the date of issuance.
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About 55% of the proceeds will be used for exploration and drilling expenditures, ~20% will be used for land management costs and property payments.
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The company said 13% of the proceeds will be used for working capital and general corporate purposes, and about 12% will be used to pay management fees to company officers.
For further details see:
Gold79 Mines launches $2M private placement