Business
Stakeholder Gold Corp. Closes Private Placement and Receives Drilling Quotes
Toronto, Ontario--(Newsfile Corp. - July 11, 2014) - Stakeholder Gold Corp. (TSXV: SRC) ("St...
About this update from Stakeholder Gold Corp.
[{"type":"text","content":"\nStakeholder Gold Corp. Closes Private Placement and Receives Drilling QuotesToronto, Ontario--(Newsfile Corp. - July 11, 2014) - Stakeholder Gold \nCorp. (TSXV: SRC) (\"Stakeholder\" or the \"Company\") is pleased to \nannounce closing of a non-brokered private placement totaling $723,698 dollars. \nThe private placement consists of $469,500 of flow through financing (issuance \nof 1,878,000 units priced at $0.25 with a two year half warrant priced at $0.35) \nand $254,198 of hard dollar financing (issuance of 1,270,990 units priced at \n$0.20 with a two year half warrant priced at $0.30) for total gross proceeds of \n$723,698 dollars. \nTwo Company directors subscribed for a total of $300,000 \ndollars (or 41%) of the funds raised, constituting 1,200,000 flow through units. \nA commission comprised of $560 and 2,240 two year warrants priced at $0.35 was \npaid to Wolverton Securities Ltd for a portion of this financing. The private \nplacement is subject to TSX-V and Regulatory approvals. \nGeochemical grid work continues over the two largest anomalies \ndetected from gravity and follow up VTEM surveys on the Bass River property near \nTruro, Nova Scotia. A quote for drilling 5,000 meters of NQ core has been \nreceived from Maritime Drilling Limited and averages $75/meter or roughly \n$375,000 total for the proposed 5,000 meter program. Further quotes are being \nattained to ensure a cost competitive program. Drilling of the identified IOCG \nprospects is expected to follow as soon as possible upon completion of the \ngeochemical grids and ground based EM surveys, which will be used to refine \ndrill collar locations. \nNeither the TSX Venture Exchange nor its Regulation Services \nProvider (as that term is defined in the policies of the TSX Venture Exchange) \naccepts responsibility for the adequacy or accuracy of this release. \nFor more information, please contact \nChristopher J. Berlet, CFA President & CEO 416 \n525-6869 Email: [email protected] \n\t\t\t\n\t\t\t\tcopyright (c) newsfile corp. 2014. all rights reserved\n\t\t\t\n \n","length":2384,"tagName":"div"}]