1911 Gold Corporation (TSXV: AUMB) (OTCQX: AUMBF) has closed an “upsized” brokered private placement for aggregate gross proceeds of $8,000,000.
Flow-Through Shares were issued in two tranches, with tranche one consisting of 6,000,000 Flow-Through Shares issued to purchasers resident in Manitoba at a price of $0.56 per Premium FT Share for aggregate gross proceeds of $3,360,000 and tranche two consisting of 14,500,000 Flow-Through Shares issued to purchasers resident in Canada at a price of $0.32 per National FT Share for aggregate gross proceeds of $4,640,000.
Canaccord Genuity Corp. acted as the sole placement agent in connection with the Offering.
The gross proceeds from the sale of the Flow-Through Shares will be used by the company to incur eligible “Canadian exploration expenses.”
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling more than 58,000 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba and also owns the True North mine and mill complex at Bissett, Manitoba, where it is reprocessing historic tailings on a seasonal basis.
1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex.
The company also owns the Apex project near Snow Lake, Manitoba and the Tully and Denton-Keefer projects near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.
For further information please visit: https://www.1911gold.com/
