Business
Lode Gold (Formerly Stratabound) Announces Closing of First Tranche of Private Placement and Plans for Proceeds
Toronto, Ontario--(Newsfile Corp. - March 5, 2024) - Lode Gold Minerals Corp. (TSXV: LOD) (OTCQB...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Lode Gold (Formerly Stratabound) Announces Closing of First Tranche of Private Placement and Plans for ProceedsToronto, Ontario--(Newsfile Corp. - March 5, 2024) - Lode Gold Minerals Corp. (TSXV: LOD) (OTCQB: SBMIF) (\"Lode Gold \" or the \"Company\" and formerly Stratabound Minerals) announces the closing on March 5, 2024 of the first tranche of $1,422,902.50 (56,916,100 units) of its non-brokered private placement (\"Private Placement\") announced on January 3, 2024. Each unit consists of one common share and one common share purchase warrant issued at a price of CDN $0.025 per unit. Each common share purchase warrant will entitle the holder thereof to purchase an additional one common share of the Company at $0.05 (Canadian) per share for a period of 24 months from the closing date.Securities issued pursuant to this tranche are subject to trading restrictions until July 5, 2024.Insiders of the Company subscribed for an aggregate of 44,516,100 common shares of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.The Company also announces that it has been granted an extension by the TSX Venture Exchange to complete its non-brokered financing on the terms set out in the news release of January 3, 2024. The extended date for final acceptance of the offering is March 15, 2024.The proceeds raised from the offering will go towards high resolution magnetics and drill targeting the Company's McIntyre Brook property (New Brunswick), data review and targeting to leverage a new RIRGS exploration model at Golden Culvert and Win projects (Southern Tombstone Gold Belt, Yukon), and drill target generation testing a large, high-grade conceptual model at its Fremont Gold project (Mother Lode Gold Belt, California).ABOUT LODE GOLDLode Gold is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.Its Golden Culvert and Win Projects, Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, ...