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1911 GOLD ANNOUNCES UPSIZE TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $3.9 MILLION
1911 GOLD ANNOUNCES UPSIZE TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $3.9 MILLION Ca...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n \n \n \n 1911 GOLD ANNOUNCES UPSIZE TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $3.9 MILLION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 5, 2023\n \n \n /CNW/ -\n \n 1911 Gold Corporation\n \n (\"\n \n 1911 Gold\n \n \" or the \"\n \n Company\n \n \") (TSXV: AUMB) ) is pleased to announce that it has upsized its previously announced non-brokered private placement to now raise gross proceeds of\n \n C$3,900,000\n \n (the \"Offering\"). The Offering is expected to be comprised of a combination of (i) non-flowthrough units of the Company (\"\n \n Units\n \n \") at\n \n $0.06\n \n per Unit, each  Unit shall consist of one common share of the Company (\"\n \n Share\n \n \") and one warrant (\"\n \n Warrant\n \n \") exercisable  to purchase one Share at\n \n $0.10\n \n for 24 months from the closing date of the Offering; (ii) flowthrough units of the Company (\"\n \n FT Units\n \n \") at\n \n $0.07\n \n per FT Unit, each FT Unit shall consist of one Share qualifying as a flow-through share (\"\n \n FT Share\n \n \") for purposes of the Income Tax Act (\n \n Canada\n \n ) (the \"\n \n ITA\n \n \") and one flow-through Warrant exercisable to purchase one Share at\n \n $0.10\n \n for 24 months from the closing date of the Offering (\"\n \n FT Warrant\n \n \"); and (iii) units of the Company  issuable to residents in\n \n Manitoba\n \n at (\"\n \n Manitoba FT Units\n \n \")\n \n $0.097\n \n per Manitoba FT Unit, each Manitoba Unit shall consist of one FT Share and one FT Warrant.\n \n \n \n \n \n \n \n \n \n The gross proceeds raised from the Offering will be used by the Company as follows: (i) the proceeds from the sale of both the FT Units and the Manitoba FT Units is expected to be used to fund exploration programs qualifying as \"Canadian Exploration Expenses\" and \"flow-through mining expenditures\" (as those terms are defined in the ITA) at the Company's flagship Rice Lake property in\n \n Manitoba\n \n , focusing on near-mine target areas (such as the\n \n Central Ma...