Newcore Gold (TSXV: NCAU, OTCQX: NCAUF) has increased the size of its previously announced commercially reasonable efforts private placement offering from C$12M to C$15M. Under the upsized offering, up to 41,096,000 units of the company are to be issued at a price of C$0.365 per unit for gross proceeds of up to C$15,000,040.
Each Unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of C$0.50 per common share for a period of 12 months following the completion of the offering.
The company intends to use the net proceeds of the offering to fund exploration and development activities at the Company’s 100% owned Enchi Gold Project in Ghana, as well as for general corporate and working capital purposes.
The Offering is expected to close on or about February 27, 2025, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
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