Business
Blue Lagoon Resources Announces $5.5 Million Financing Lead by a Strategic Investment by Crescat Capital for $1.5 Million
VANCOUVER, BC / ACCESSWIRE / July 8, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce a non-brokered fl
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / July 8, 2021 / Blue Lagoon Resources Inc. (the \"Company\") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce a non-brokered flow through and non-flow through financing. Crescat Capital LLC (\"Crescat\") has agreed to be the lead order by making a strategic investment of $1.5 Million or more than 27% of the proposed $5.5 Million financing. In addition, Crescat requested and secured, participation rights that provide for an option to participate in future financings. \"Crescat is taking an activist approach to investing in the precious metals industry today,\" said Kevin Smith, Crescat's founder and chief investment officer. \"Our goal at this stage of the cycle is to identify and invest in a portfolio of potentially big, high-grade discoveries in the hands of undervalued juniors where we can help unlock value. We are excited about the potential of Blue Lagoon's Dome Mountain property.\" Quinton Hennigh, technical advisor to Crescat Capital commented, \"Blue Lagoon's Dome Mountain project displays characteristics of a certain type of intermediate sulfidation system called a carbonate-base metal-gold deposit. Examples of such deposits around the world include Kelian in Indonesia, Buritica in Colombia and Highland Valley in Papua New Guinea. Although Dome Mountain has seen virtually no modern exploration, the property hosts a number of high-grade gold veins, in places quite closely spaced such as at the Freegold target. Blue Lagoon has already encountered multiple high-grade intercepts in some of their first drill holes on the project. Crescat is very excited to help fund a very aggressive drill program at Dome Mountain this year, one that could result in the recognition of Dome Mountain as a potentially large, high-grade gold system,\" he added. The flow through units (\"FT Units\") will be priced at $0.7425. Each FT Unit will consist of one flow-through common share and one-half of a share purchase warrant. The non-flow-through units (\"NFT Units\") will be priced at $0.55. Each NFT Unit will consist of one common share plus one-half share purchase warrant. Each whole warrant may be exercised to purchase an additional common share at $0.75 for a twenty-four month period. The FT Units are being offered on a charity flow-through basis. The Company may pay finder's fees in relation to a portion of...