Business
Big Gold Announces Concurrent Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - October 21, 2024) - Big Gold Inc. (CSE: BG) (FSE: H7L) (the "Company" or "Big Gold") is pleased to announce the launch of a
About this update from Big Gold, Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - October 21, 2024) - Big Gold Inc. (CSE: BG) (FSE: H7L) (the \"Company\" or \"Big Gold\") is pleased to announce the launch of a non-brokered private placement of securities for up to $175,000 (the \"Offering\"). The Offering will be comprised of a combination of: (i) non-flow-through units (the \"NFT Units\") to be sold at a price of $0.025 per NFT Unit for aggregate gross proceeds of up to $75,000 (the \"NFT Offering\"); and (ii) flow-through units (the \"FT Units\") to be sold at a price of $0.04 per FT Unit for aggregate gross proceeds of up to $100,000 (the \"FT Offering\"). Each NFT Unit will be comprised of one common share in the capital of the Company (a \"Common Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each FT Unit will be comprised of one Common Share that will qualify as a \"flow-through share\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") and one-half of one Warrant. The Warrants for all units will be subject to the same terms, with each Warrant entitling the holder thereof to purchase one Common Share (a \"Warrant Share\") for a period of twenty four (24) months from the date of issuance at an exercise price of $0.05 per Warrant Share. The Company intends to use the gross proceeds raised from the FT Offering for exploration and related programs on the Company's Tabor mineral properties. The proceeds from the NFT Offering will be used for general working capital and administrative purposes. In accordance with applicable Canadian securities laws, all Units issued pursuant to the private placement will be legended with a hold period of four months and one day from the date of issuance. The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with both Offerings, subject to compliance with the policies of the CSE. The Offering is scheduled to close on or about October 30, 2024 (the \"Closing Date\"), unless otherwise disclosed by the Company. About Big Gold Inc. Big Gold Inc. is a junior mining exploration company. Its initial focus is to conduct Exploration Programs on the Martin Kenty and Tabor projects located in Ontario. Big Gold will also continue to consider other opportunities as they arise, with the objective of acquiring and exploring earl...