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Sitka Gold Closes $4 Million Non-Brokered Private Placement
VANCOUVER, BC, Aug. 29, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that the Company ha
About this update from Sitka Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Aug. 29, 2023 /CNW/ - Sitka Gold Corp. (\"Sitka\" or the \"Company\") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that the Company has closed its previously announced non-brokered private placement for total gross proceeds of $4,000,000 (the \"Offering\") through the issuance of 22,222,222 units (the \"Units\") to a single investor, Ana Maria Cox De Gubbins, at a price of $0.18 per Unit. Each Unit is comprised of one common share in the capital of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase an additional Common Share in the capital of the Company at a price of $0.36 for a period of 24 months from the date of issuance. No finder's fees, commission, bonus, agent's option or other compensation was paid in connection with the Offering. 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. \"The Company is pleased to welcome Ms. Cox as a new, significant shareholder of Sitka Gold,\" comments Cor Coe, CEO and Director of Sitka, \"Ms. Cox's investment in Sitka at a significant premium to market is a strong endorsement of the potential upside present at Sitka's RC Gold project in Yukon's Tombstone Gold Belt as well as Sitka's robust portfolio of other mineral assets in Nevada, Arizona and Nunavut. Ms. Cox is a significant shareholder of Snowline Gold Corp., which is also focused in the Tombstone Gold Belt, where she is an insider and currently holds over 10% of the issued and outstanding Common shares. With the addition of this investment, Sitka is well funded to continue advancing its portfolio of mineral assets, including RC Gold in Yukon where a diamond drilling program of up to 10,000 metres is currently underway.\" Early Warning Disclosure Ana Maria Cox De Gubbins acquired 22,222,222 Units for aggregate consideration of $4,000,000. Prior to the acquisition, Ms. Cox owned no securities of the Company, representing 0% of the Company's issued and outstanding Common Shares. Following the acquisition, Ms. Cox owns 22,222,222 Common Shares and 11,111,111 Warrants, representing approximately 14.3% of the issued and ou...