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ALLEGIANT Increases Size of Private Placement due to Strong Investor Demand
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, July 10, 2018 (GLOBE
About this update from A2 Gold Corp.
[{"type":"text","content":" THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, July 10, 2018 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“ALLEGIANT”) (TSX-V:AUAU) (OTCQX:AUXXF) is pleased to announce that due to strong investor demand it has increased its previously announced non-brokered private placement (see news release dated July 5, 2018) from CAD$4,415,605 to CAD$4,945,500; an increase of CAN$529,895. The placement will consist of 14,130,000 common shares of ALLEGIANT at a price of CAN$0.35 per common share (the “Offering”). Proceeds of the Offering will be used to carry-out high-impact “discovery” exploration drill programs on six of ALLEGIANT’S high-priority exploration projects, located principally in the mining-friendly jurisdiction of Nevada. Closing of the Offering is anticipated to occur in July, subject to customary closing conditions, including approval of the TSX Venture Exchange. All shares issued in connection with the Offering will be subject to a four month hold period. Finders’ fees will be payable on a portion of the Offering and will consist of cash of 6% of the gross proceeds received from the sale of the shares. ABOUT ALLEGIANT ALLEGIANT is led by CEO Andy Wallace, who is credited with discovering a number of multi-million-ounce gold mines in Nevada. ALLEGIANT owns 100% of 14 highly-prospective drill-ready gold projects in the United States, 11 of which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT’s flagship Eastside project hosts a large and expanding gold resource, is district scale, and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching. QUALIFIED PERSONAndy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Wallace has reviewed and approved the technical content of this press release. ON BEHALF OF THE BOARD, Robert F. Giustra Chairman For more information contact: Investor Relations(604) 634-0970 [email protected] Neither TSX Venture Exchange nor its...