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Sitka Gold Announces Fully Subscribed $4M Private Placement
VANCOUVER, CANADA – TheNewswire - August 22, 2023 - Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTC:SITKF) is pleased to announce a fully s
About this update from Sitka Gold Corp.
[{"type":"text","content":"VANCOUVER, CANADA – TheNewswire - August 22, 2023 - Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTC:SITKF) is pleased to announce a fully subscribed non-brokered private placement (the “Offering”) of 22,222,222 units (“Units”) at a price of $0.18 per Unit, for aggregate gross proceeds of $4,000,000. Each Unit will consist of one common share in capital of the corporation (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.36 per Common Share for a period of 24 months from the date of issuance. The securities offered pursuant to Offering will be subject to a statutory hold period of four months and a day from the date of issuance. The Company expects to complete the Offering on Tuesday, August 29, 2023, in accordance with Canadian Securities Exchange (\"CSE\") policies. No finder's fees, commission, bonus, agent's option or other compensation will be paid in connection with the Offering. The Offering remains subject to regulatory approval and the approval of the CSE. The Company intends to use the net proceeds of the Offering for exploration work on its mineral properties, including the RC Gold Project in Yukon, and for general working capital. About Sitka Gold Corp. Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the RC, Barney Ridge, Clear Creek and OGI properties in the Yukon and the Burro Creek Gold property in Arizona. Sitka owns a 100% interest in its Alpha Gold property in Nevada, its Mahtin Gold property in the Yukon and its Coppermine River project in Nunavut. The Company recently announced an NI 43-101 compliant initial inferred Mineral Resource Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its RC Gold Project in Yukon (see news release dated January 19, 2023). The Company is also planning additional drilling at its Alpha Gold Property in Nevada where a new Carlin-type gold system was recently discovered...