Business
Golden Cross Resources Increases Private Placement to C$5 Million
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Golden Cross Resources Inc. (TSXV...
About this update from Golden Cross Resources Inc.
[{"type":"text","content":"Golden Cross Resources Increases Private Placement to C$5 MillionVancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - Golden Cross Resources Inc. (TSXV: AUX) (OTCQB: ZCRMF) (FSE: ZMLO) (\"Golden Cross\" or the \"Company\") is pleased to announce that, as a result of significant demand, it has increased the size of its previously announced non-brokered private placement (see news releases dated June 19, 2025). Golden Cross now plans to raise gross proceeds of up to C$5,000,000 through the issuance of 11,111,111 units at a price of $0.45 per unit.The Offering consists of units at a price of $0.45 per unit (the \"Units\"). Each Unit will consist of one common share in the capital of the Company (a \"Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.65 per Share for a period of two years from closing of the Offering.Matt Roma, Golden Cross CEO stated, \"We have seen significant demand for the private placement. Given the quality of the investors seeking to invest, we have decided to increase the private placement. The funds from the private placement will allow us to accelerate and extend our initial 6,000 m drill program including adding additional drill rigs at our Reedy Creek project.\"The Company intends to use the proceeds of the Offering to accelerate exploration drilling and development of the Company's Reedy Creek high-grade gold project located in Victoria, Australia.Golden Cross may pay finder's fees on some portion of the gross proceeds of the Offering to certain arms-length parties who assist the Company in introducing subscribers to the Offering. The Offering is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold...