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TomaGold Announces Closing of Oversubscribed Flow-Through Private Placement, New Private Placement and Grant of Stock Options
TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“ TomaGold ” or the “ ...
About this update from Tomagold Corporation Class A
[{"type":"text","content":"TomaGold Announces Closing of Oversubscribed Flow-Through Private Placement, New Private Placement and Grant of Stock Options\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF)\n \n (“\n \n TomaGold\n \n ” or the “\n \n Company\n \n ”) is pleased to announce the closing of its previously announced non-brokered private placement (the “\n \n Private Placement\n \n ”) for total proceeds of $348,075.45. The oversubscribed Private Placement was completed through the issuance of 5,355,007 common shares of the Company on a “flow-through” basis (the “\n \n FT Shares\n \n ”) at a price of $0.065 per FT Share.\n \n\n In connection with the Private Placement, TomaGold paid aggregate cash finder’s fees of $9,617.27 and issued 96,173 finder’s compensation warrants to the eligible finders (the “\n \n Finder’s Warrants\n \n ”). Each Finder’s Warrant entitles the holder to purchase one common share of the Company at $0.10 per common share for a period of 24 months from the date of issuance.\n \n\n All securities issued in connection with the Private Placement are subject to a statutory hold period of 4 months and a day from their issuance. The Company intends to use the gross proceeds from the sale of the FT Shares to incur exploration expenses that are eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as such terms are defined in the\n \n Income Tax Act\n \n (Canada).\n \n\n Closing of the Private Placement remains subject to final approval of the TSX Venture Exchange (the “\n \n TSXV\n \n ”).\n \n\n\n New Private Placement\n \n\n\n The Company also announces that, subject to filings with and approval from the TSXV, it intends to complete a non-brokered private placement for gross proceeds of up to $150,000 (the “\n \n Offering\n \n ”). The Offering will consist of up to 2,727,273 units (the “\n \n Units\n \n ”) at a price of $0.055 per Unit, each consisting of one common share in the capital of the Company (each, a “\n \n Share\n \n ”) and one-half of one Share purchase warrant (each whole warrant, a “\n \n Wa...