Business
VanGold Closes $16,950,000 Private Placement - Welcomes New Shareholders Eric Sprott and VBS
Anticipates Endeavour Silver Corp. Becoming Largest Shareholder This News Release is no...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"VanGold Closes $16,950,000 Private Placement - Welcomes New Shareholders Eric Sprott and VBSAnticipates Endeavour Silver Corp. Becoming Largest ShareholderThis News Release is not for Distribution to U.S. Newswire Services or for Dissemination in the United StatesVANCOUVER, BC / ACCESSWIRE / March 10, 2021 / VanGold Mining Corp (the \"Company\" or \"VanGold\") (TSXV:VGLD) is pleased to announce it has closed its non-brokered private placement of units (\"Units\") at a price of $0.30 per Unit announced December 23, 2020 (the \"Private Placement\") and expanded on January 19, 2021, January 25, 2021, and February 17, 2021. The Company has issued a total of 56,500,000 Units for gross proceeds of $16,950,000 with each Unit consisting of one common share of the Company and one half (1/2) of a common share purchase warrant (each whole warrant a \"Warrant\"). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of $0.45 within three years of closing, subject to acceleration in certain events.The Company would like to thank the over 180 subscribers, large and small, who have participated in this private placement. We welcome them to our adventure of potential mineral discovery and future production of silver and gold in Guanajuato Mexico.VanGold would especially like to acknowledge the investment and backing of Endeavour Silver Corp., VBS Exchange Pty. Ltd, and renowned precious metals investor Mr. Eric Sprott.Endeavour Silver Corp. is a mid-tier precious metals company that operates three underground silver-gold mines in Mexico and upon closing of the acquisition of the El Cubo mine and mill announced December 18, 2020, Endeavour will become VanGold's largest shareholder with approximately 11.3% ownership of the Company. VBS - or ‘The Victor B. Smorgen Group' - is led by Australian entrepreneur Peter Edwards and is active in the gold mining sector as part of its expansive business empire. VBS now owns approximately 5.5% of VanGold. Mr. Eric Sprott, a well-known and influential leader in the resource investment community has invested $2,000,000 in this private placement and now owns approximately 3.5% of VanGold.The Company appreciates the strong endorsement from these investors for VanGold's business plan to source mineralized material from both of the past producing El Pinguico and El...