Business
Resouro Closes Oversubscribed Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - May 10, 2023) - Resouro Gold Inc. (TSXV: RAU) (" Resouro " ...
About this update from Resouro Strategic Metals Inc
[{"type":"text","content":"Resouro Closes Oversubscribed Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - May 10, 2023) - Resouro Gold Inc. (TSXV: RAU) (\"Resouro\" or the \"Company\") is pleased to announce that the Company has completed the oversubscribed previously announced non-brokered private placement (the \"Offering\"). As part of the Offering, Resouro issued 2,753,333 Common Shares of the Company (\"Shares\") at a price of C$0.15 per Share for gross proceeds of C$413,000.The net proceeds from the Private Placement will be used to advance exploration on the Company's Tiros Titanium-REE Project and Novo Mundo Gold Project in Brazil and for general working capital purposes.Christopher Eager, President and CEO, comments: \"We have our sights set on moving forward with other action items at both Tiros and Novo Mundo. We already sent a composite sample from Tiros to the local lab in Brazil for metallurgical analysis and will soon start an Auger and aircore drilling programs at the project with the aim to produce a maiden NI 43-101 Technical Report. Over the course of this exploration season we will commence a follow-up exploration at Novo Mundo, which would include trenching the surface projections of the mineralized envelopes and a subsequent drill step-out drill program. The next few months should be very active for Resouro.\"Additionally, Resouro announces that the Company has entered into a corporate advisory agreement with Castlewood Capital Corp., whereby Castlewood will provide corporate and investment banking advisory services. The agreement with Castlewood is for a six-month term and provides a monthly fee and additional compensation for certain transactions introduced by Castlewood. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will be legended with a hold period of four months and one day from the date of issuance. Completion of the Private Placement remains subject to the receipt of all necessary regulatory approvals, including approval of the Toronto Venture Stock Exchange (the \"TSXV\").The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registrat...