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1911 Gold Corporation Announces Upsize to Previously Announced Brokered Private Placement of Flow-Through Shares
1911 Gold Corporation Announces Upsize to Previously Announced Brokered Private Placement...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n \n \n \n 1911 Gold Corporation Announces Upsize to Previously Announced Brokered Private Placement of Flow-Through Shares\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 9, 2021\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, based on significant investor demand, the Company has increased the size of the previously announced \"best efforts\" private placement (the\n \n \"Offering\"\n \n ) from\n \n $5,000,000\n \n to\n \n $7,000,000\n \n from the sale of 17,375,000 common shares of the Company that qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n )) (the \"\n \n Flow-Through Shares\n \n \"). The Flow-Through Shares will be issued in two tranches. Tranche one will consist of up to 6,000,000 Flow-Through Shares (the \"\n \n Premium FT Shares\n \n \") at a price of\n \n $0.56\n \n per Premium FT Share to purchasers resident in\n \n Manitoba\n \n for aggregate gross proceeds of up to\n \n C$3,360,000\n \n . Tranche two will consist of up to 11,375,000 Flow-Through Shares (the \"\n \n National FT Shares\n \n \") at a price of\n \n $0.32\n \n per National FT Share for aggregate gross proceeds of up to\n \n C$3,640,000\n \n .\n \n \n The Company has also granted the Agent an option, exercisable in whole or in part at any time up to 48 hours prior to closing of the Offering, to increase the size of the Offering through the issuance of up to 3,125,000 National FT Shares at the National FT Price for additional gross proceeds of up to\n \n C$1,000,000\n \n .\n \n \n The gross proceeds from the sale of the Flow-Through Shares will be used by the Company to incur eligible \"Canadian exploration expenses\" (as defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ...