Snowline Gold Corp. (CSE: SGD) has significantly increased its non-brokered private placement after it became over-subscribed.
The company has increased the number of premium flow-through common shares of the company to be issued to a maximum of 8,783,783 Premium FT Shares at a price of C$0.74 per Premium FT Share for gross proceeds of up to C$6,500,000 – up from C$4,500,000.
The number flow-through common shares of the company remains at a maximum of 757,575 FT Shares at a price of C$0.66 per FT Share for gross proceeds of up to C$500,000.
Each FT Share and Premium FT Share will be accompanied by one-half of one common share purchase warrant (each whole common share purchase warrant, with each Warrant being exercisable for one common share of the company at an exercise price of C$0.75 for a period of two years.
The gross proceeds from the issue and sale of the FT Shares and the Premium FT Shares will be used to support advancement of exploration on the Company’s Yukon Territory mineral properties, which will qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares and the Premium FT Shares with an effective date no later than December 31, 2021.
It is expected that the closing of the Offering will occur on or about December 15, 2021.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >100,000 ha. The company is exploring its flagship 72,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin.
Snowline’s project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross’ Fort Knox mine, Newmont’s Coffee deposit, and Victoria Gold’s Eagle Mine. Snowline’s first-mover land position provides a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
For further information please visit: https://snowlinegold.com/