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Big Ridge Gold Corp Announces $5.0 Million Private Placement Supported by Michael Gentile and PowerOne Group and the Purchase of the Remaining 20% of the Hope Brook Gold Project
Toronto, Ontario--(Newsfile Corp. - July 7, 2025) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALV...
About this update from Big Ridge Gold Corp
[{"type":"text","content":"Big Ridge Gold Corp Announces $5.0 Million Private Placement Supported by Michael Gentile and PowerOne Group and the Purchase of the Remaining 20% of the Hope Brook Gold ProjectToronto, Ontario--(Newsfile Corp. - July 7, 2025) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) (\"Big Ridge\" or the \"Company\") is pleased to announce that it has entered into an agreement with PowerOne Capital Markets Limited (\"PowerOne\") as Lead Finder in connection with a best efforts private placement of up to 40,000,000 common share units (\"Units\") of the Company at a price of $0.125 per Unit to raise gross proceeds of up to approximately $5.0 million (the \"Offering\").Each Unit shall consist of one common share (a \"Share\") and one half of a common share purchase warrant (a \"Warrant\"). Each Warrant is exercisable into one common share of the Company at a price of C$0.20 per common share for a period of 24 months from the closing date of the Offering.The Company intends to use the net proceeds of the Offering to fund the purchase of the remaining 20% of the Hope Brook Gold Project it does not currently own, as described below, and for general working capital purposes. Michael Bandrowski, President & CEO of the Company, commented: \"Big Ridge is pleased to receive continued support from existing shareholders, including strong participation from Mr. Michael Gentile, PowerOne Capital Group, and other supportive shareholders. Consolidating 100% ownership of the Hope Brook Gold Project is a significant milestone for Big Ridge, putting the company in position to realize the full value of a fantastic asset in a tier-one jurisdiction.\" Michael Gentile commented: \"I am very happy to further increase my investment in Big Ridge Gold, one of the most undervalued and under the radar names I own in my portfolio. Today's announcement of a 100% working interest in the Hope Brook project is not only highly accretive but highly strategic. With 100% ownership of a robust resource, advanced metallurgy, favourable infrastructure and a potential rapid permitting pathway under a secondary processing structure, the future looks very bright for BRAU shareholders.\" The Offering is being made by way of private placement in Canada and the securities issued under the Offering will be subject to a four month hold period under applicable securities laws in C...