Business
Maple Gold closes final $330,000 tranche from previously announced private placement
Montreal, Quebec--(Newsfile Corp. - December 30, 2019) -  Maple Gold Mines Ltd. ( TSXV:...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Maple Gold closes final $330,000 tranche from previously announced private placementMontreal, Quebec--(Newsfile Corp. - December 30, 2019) -  Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (\"Maple Gold\" or the \"Company\") is pleased to announce that it has closed the Second Offering from its previously announced non-brokered private placement for total gross proceeds of C$330,000. On December 23, 2019, the Company announced that it had arranged additional non-brokered flow-through financing (the \"Second Offering\") for C$210,000 through the issuance of 1,500,000 common shares (the \"Flow Through Shares\") at a price of $0.14 per Flow Through Share and an additional $120,000 in hard dollar financing through the issuance of 1,500,000 common shares (the \"Shares\") at a price of C$0.08 per Share. The additional financing was arranged subsequent to the Company's non-brokered private placement that was announced on December 19, 2019 (the \"Initial Offering\").All Shares issued in connection with the Offerings will be subject to a four-month hold period from the date of closing. The Company intends to use the net proceeds from the private placements to drill top-priority targets at the Douay Project and for general corporate purposes. There were no finder's fees associated with the Second Offering and no pro group participation. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.The Flow Through Shares will be \"flow-through\" shares pursuant to the Income Tax Act (Canada) and will be subject to a statutory hold period of four-months plus one day from the date of closing. The Company intends to use the net proceeds from the private placement to continue advancing the Douay Gold Project. About Maple GoldMaple Gold is an advanced gold exploration and developme...