Business
Ashley Gold Closes Oversubscribed Private Placement and Commences Utah Uranium-Vanadium Site Visit; Announces Options
March 22, 2024 – TheNewswire - Calgary, Alberta - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) announces the Company has closed its previously an
About this update from Ashley Gold Corp.
[{"type":"text","content":"March 22, 2024 – TheNewswire - Calgary, Alberta - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) announces the Company has closed its previously announced non-brokered private placement (the “Offering”) of units (“Units”) on an oversubscribed basis, for gross proceeds of $182,875 (CDN). The Offering consisted of the issuance of an aggregate of 3,657,500 Units, at a price of $0.05 per Unit and were comprised of one common share and one-half of one common share purchase warrant (“Warrant”). Each full Warrant is exercisable into common shares at a price of $0.07 for a term of 24 months from the closing of the Offering, subject to accelerated expiry provisions described in the notes below. All securities issued under the Offering are subject to a statutory four month hold period. After giving effect to the Offering the Company has 34,905,248 common shares outstanding. Darcy Christian, CEO of Ashley comments “We are happy to get this financing closed as it will ensure continued exploration on our Howie, Tabor-Sakoose, and Burnthut Properties this spring. In particular, an IP survey at Howie will be very useful for drill targeting in a future drill program.” Utah Site Visit to the Uranium-Vanadium Sahara Property On March 20, 2024, Darcy Christian and George Stephenson will conduct a site visit of the Sahara Property as part of due diligence. The visit will include reviewing several boxes of historical data and maps which will be digitized as well as a review of the existing core. Day’s 2 and 3 will be spent traveling to reviewing the Sahara Property with focus on historical workings, outcrop verification and evaluating the two declines for reopening. “I am excited to see the Sahara Property first-hand.” Darcy Christian comments. “So far, all the data reviewed has met or exceeded expectations on the potential size and scope of the Property. We will document the trip for our shareholders as best we can in order to capture the potential for everyone to see” About the Sahara Property The Sahara Property is located 12 miles southwest of Green River, Utah and consists of over 400 claims totalling over 10,000 acres. The region has produced 4,000,000 lbs of Uranium and 5,000,000 lbs of Vanadium with some historical production occuring on the Property until 1980. The Project is located one mile of...