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Sitka Gold Announces Increase of Previously Announced Private Placement to $3.25 Million
VANCOUVER, CANADA – TheNewswire - December 19, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce that,
About this update from Sitka Gold Corp.
[{"type":"text","content":"VANCOUVER, CANADA – TheNewswire - December 19, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce that, due to strong investor demand, the Company has increased the size of the previously announced non-brokered private placement of flow-through units (“FT Units”) at a price of $0.15 per FT Unit, and non-flow-through units (“NFT Units”) at a price of $0.13 per NFT Unit, for aggregate gross proceeds of up to $3.25 million (the “Offering”). The Company expects closing of the Offering to occur on or about December 22, 2022. Each FT Unit will consist of one flow-through common share (a “FT 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 additional non-flow-through common share (an “NFT Share”) at a price of $0.22 per NFT Share for a period of 24 months from the date of issuance. Each NFT Unit consists of one NFT Share and one-half of one Warrant. Each Warrant will entitle the holder thereof to purchase one additional NFT Share at a price of $0.22 per NFT 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 may pay a finder’s fee on a portion of the gross proceeds of the Offering. The Offering remains subject to regulatory approval and the approval of the Canadian Securities Exchange (“CSE”). Certain directors and officers of the Company are expected to acquire securities under the Offering. Such participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The Company expects the Offering to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company intends to use the net proceeds of the Offering for exploration work on its Yukon gold properties 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...