Business
Spanish Mountain Gold Announces Closing of C$7.2 Million Brokered Private Placement
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About this update from Spanish Mountain Gold Ltd.
[{"type":"text","content":"Spanish Mountain Gold Announces Closing of C$7.2 Million Brokered Private Placement\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n Not for distribution to United States Newswire Services or for dissemination in the United States\n \n\n\n\n\n Spanish Mountain Gold Ltd. (the \"\n \n Company\n \n \" or \"\n \n Spanish Mountain Gold\n \n \")\n \n (TSX-V: SPA) (FSE: S3Y) (OTC: SPAUF)\n \n is pleased to announce that further to its press releases dated August 7 and August 11, 2025, the Company has closed its previously announced brokered private placement (the “\n \n Offering\n \n ”) for aggregate gross proceeds of approximately C$7,199,968, which includes the proceeds from the exercise of the agent’s option. Pursuant to the Offering, the Company sold (i) 20,690,087 units of the Company (each, a “\n \n Unit\n \n ”) at a price of C$0.145 per Unit (the “\n \n Unit Price\n \n ”), (ii) 7,121,850 flow-through share units of the Company (each, a “\n \n FT Unit\n \n ”) at a price of C$0.165 per FT Unit, and (iii) 15,124,000 flow-through share units of the Company sold to charitable purchasers (each, a “\n \n Charity FT Unit\n \n ”, and together with the FT Units and Units, the “\n \n Offered Securities\n \n ”) at a price of C$0.20 per Charity FT Unit.\n \n\n Red Cloud Securities Inc. (“\n \n Red Cloud\n \n ”) acted as sole agent and bookrunner in connection with the Offering.\n \n\n Each Unit consists of one (1) common share in the capital of the Company (each, a “\n \n Common Share\n \n ”) and one (1) Common Share purchase warrant (each, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder thereof to acquire one (1) additional Common Share (each, a “\n \n Warrant Share\n \n ”) at a price of C$0.22 per Warrant Share at any time on or before August 27, 2028. Each FT Unit consists of one (1) Common Share to be issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “\n \n FT Share\n \n ”) and one-half of one Common Share purchase warrant (each whole warrant, a “\n \n FT Unit Warrant\n \n ”). Each FT Unit Warrant entitles the holder thereof to acquire one (1) addi...