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Altamira Gold Announces Closing of Oversubscribed Private Placement with Lead Order from Crescat
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2021) - Altamira Gold Corp. (TSXV:...
About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira Gold Announces Closing of Oversubscribed Private Placement with Lead Order from CrescatVancouver, British Columbia--(Newsfile Corp. - February 8, 2021) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), (\"Altamira\" or the \"Company\") is pleased to announce that, subject to final approval from the TSX Venture Exchange, it has closed its non-brokered private placement financing, previously announced on January 28, 2021. The Company issued 20,000,000 units (the \"Units\") at a price of $0.20 per Unit for gross proceeds of $4,000,000 (the \"Offering\"), representing an oversubscription of $300,000 from the originally announced Offering. Crescat Portfolio Management LLC (\"Crescat\") participated with a lead order of $1,500,000.Each Unit consists of one common share (a \"Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase one common share in the capital of the Company at an exercise price of $0.30 per share until February 5, 2023.The proceeds from the Offering are to be used for general working capital and for exploration at its Cajueiro, Apiacas and Santa Helena projects. No finders' fees were paid or are payable in connection with the Offering. All securities issued in connection with the Offering are subject to a four month hold period expiring on June 6, 2021.Michael Bennett, President & CEO of Altamira Gold commented \"We are extremely pleased to welcome Crescat, an award-winning global macro asset management firm, as a significant shareholder of the Company as we continue to unlock the mineral potential of the Alta Floresta belt. The confidence Crescat and its world-renowned technical advisor, Dr. Quinton Hennigh, have shown in Altamira is a vindication of our belief that the belt has world-class potential. This financing will allow us to advance exploration at our three most prospective projects which cover 162,206 hectares of this prolific gold belt.\"Dr. Quinton Hennigh, geologic advisor to Crescat, commented \"Altamira have three high-quality near-drill ready gold projects in the Alta Floresta belt, Mato Grosso state, Brazil. These include: 1) a robust Au soil anomaly at the Maria Bonita target, part of the Cajueiro project, 2) the intriguing large intrusive gold system at Apiacas, and 3) the recently disc...